Next Xbox 720 to launch in 2011-2012 according to Microsoft Read more: http://www.videogamesblogger.com/2007/03/13/next-xbox-720-to-launch-in-2011-2012-according-to-microsoft.htm#ixzz0iqE8htYU

On June 13th, 2008, Robbie Bach — the President of Entertainment & Devices Division at Microsoft — mentioned the next Xbox by saying: “Our view is we will be selling Xbox 360 for a long time. We are always working on new technologies. We have people working on those. People ask me how many people I have working on the next generation. On the one hand, it’s everybody. On the other, it’s nobody. People are continuously working on new technology.
We started thinking about the next generation before we shipped the Xbox 360. It doesn’t start with a date. It starts way upstream with silicon development. From that comes a series of data points. You start making early technology choices. It’s an evolving thing. Stuff doesn’t become concrete until you get inside a window of when you have to ship, more than 18 months or so out.”