While this may not be the most shocking revelation, it is the first time a Microsoft employee has mentioned the Durango, or Xbox 720, on record. Hall did not confirm any details about the Xbox 720, though he did imply that the console may be hitting shelves by the end of the year. Specifically, he grouped the Xbox in with other products set to launch before 2013; speaking about the updated Outlook.com, Hall said that Microsoft is releasing it to coincide with "the new wave of products," including Windows 8, Office 15, the next generation of Windows Phones, and the aforementioned Xbox.
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I have doubts because of there being any killer launch titles such as Halo when Halo 4 is just about to launch on the 360, Forza just being recently launched.. But if rumours are true it would be a killer blow to Nintendo and Sony.