Microsoft may launch new Xbox in late 2013: Report

Software giant Microsoft will release the next version of its Xbox video game machine in late 2013, sources have disclosed. According to people familiar with the company's plans, the new device is planned for November and December sales.

The software maker hasn't decided whether to unveil the new Xbox at an industry event such as the E3 show in June, or a separate event devoted solely to the machine, one of the sources said.

According to Stuff.co.nz, the new version will debut a year after Nintendo's brand-new Wii U, which went on sale November 18 in the US. Sony is also readying an update to its PlayStation console.

Meanwhile, Microsoft is still trying to squeeze out sales of the current model Xbox 360, selling 750,000 over the week around Thanksgiving, surpassing company expectations.