Microsoft plans to launch its next-generation Xbox video game and home entertainment console ahead of the holidays next year, according to a recent report. The Los Angeles Times on Monday published a developer contract between Acitivision Blizzard and famed Halo developers Bungie. The firms are currently working on a new Massively Multiplayer Online franchise called Destiny, which will be a first-person shooter with a science fiction theme. While the fact that the companies currently have four titles planned for the series is exciting for gamers in itself, another tidbit may be even more titillating; the contract suggests that the first Destiny title will launch ahead of the holidays next year as an exclusive for Microsoft’s Xbox 360 and its next-generation console, which the document refers to as the “Xbox 720.” An earlier report from an industry industry insider suggested that Microsoft will launch an ARM-based “Xbox lite” in late 2013 followed by a true Xbox 360 successor some time later, however this new information suggests that timeline may not be accurate.

[Via PC & Tech Authority]

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Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.