Microsoft Makes Xbox 720

Microsoft's ( MSFT) Xbox 360 has been a huge hit since the Redmond, Wash.-based tech giant launched the gaming console in 2005. Though some Microsoft execs have said a new console won't come out for a few years, I believe that's a smoke screen.

Microsoft executive Shane Kim spoke about the Xbox 360 in 2009 and said the device could last as long as until 2015. A lot has changed in three years, and it's increasingly likely that Microsoft, along with Sony ( SNE), will release new gaming consoles, as Nintendo ( NTDOY) did earlier this year, with the Wii U.

It's unknown at this point what the device will look like, but it's a good bet it will offer many of the same great features that have made the Xbox 360 a success, including Xbox Live, and various content deals, with the likes of Netflix ( NFLX) and Hulu.

I'd expect the next Xbox to be released somewhere around mid-November, just in time for the holiday shopping season.

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