Xbox 720 Leaks: Windows 8 OS, May Reveal, November Release, Always Online, Price Inside

Just as the Xbox 720 rumors started heating up, two new reports Monday have surfaced claiming that Microsoft is readying its next generation, Windows 8-powered video game console for a reveal event in May, and there might even be two different Xbox 720 models at hand.

Previous rumors suggested that Microsoft would hold an Xbox 720 event in April, but it looks like Redmond has pushed the date back to May 21. It will officially unveil the first wave of details about the console, and Monday's reports are relaying that the Xbox 720 will come in at least two different models. One will cost $500, while another, cheaper model will retail for $300 and require some kind of subscription. No mention of a subscription was made for the expensive version, but at this point nothing has been confirmed.

The news comes from Microsoft analyst Paul Thurrot, who also claimed that the Xbox 720 (which may simply be dubbed "Xbox") will launch in November, and seemed to confirm that the system will have the controversial always online requirement that's caused such a stir this week.

"Looking at some of the stuff I got a long time ago, it actually says 'must be Internet-connected to use' in the notes," Thurrot said. "And that's all I have, but it does say that."

The Verge has also independently verified that Microsoft's Xbox 720 event is scheduled for May 21, although it did not mention a specific price point, nor did it confirm/deny the always-online requirement.

Interestingly, though, The Verge revealed that the Xbox 720 will be powered by Microsoft's new Windows 8 operating system. Microsoft is making a big push for Windows 8 with its Surface Pro and RT tablets only to see mixed results so far, but it looks like the company will try to leverage the Xbox brand's popularity to boost Windows 8 penetration. Whether or not it will work is another question, especially considering the apparent willingness of many gamers to abandon Xbox should it require an Internet connection to function.

The May 21 reveal lands just a few weeks before the Electronic Entertainment Expo in Los Angeles. Microsoft will not likely reveal everything consumers want to know about the Xbox 720 in May, choosing to save a substantial amount of information to be shared at E3.

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