According to some Microsoft punters, the next Xbox console is codenamed 'Ten' and will be launching at the end of 2012.Paul Thurott of the SuperSite for Windows suggested on Leo Laporte's Windows Weekly video podcast that a full announcement would likely occur during the Consumer Electronics Show in January, if the 'Holiday 2012' date is to be believed.
Thurott went on to claim from sources that he has spoken to that the next console will also feature a full Metro design (which you'll recognise from Windows Phone 7 and Windows 8 interfaces) and "embedded Silverlight," likely to power video content and other media. Microsoft apparently has plans to "do an Apple" and integrate the 'Ten' tightly with other Windows platforms.
Take all of this as a rumour for now, given that all this is hearsay at the moment. If you want to watch the conversation for yourself,
click here and skip to around 1:28:16.