"The next wave crest isn't as high as the previous one," International Data Corp. research manager Lewis Ward told .

Ward estimated that a combined 250 million Xbox 360, PlayStation 3, and Wii units were sold between 2005 and 2012. Microsoft has confirmed . That leaves around 74 million for the PS3.

"I do think that consoles as a product category have peaked and the next-gen devices won't match those totals," Ward added.

Nintendo's Wii U is the only next generation console on the market thus far. It has struggled, selling since its launch last year.

Sony has confirmed that the .

Microsoft has invited media to its Redmond, Washington campus today where the company will . GameSpot is on-location at the event and will have details from the presentation as they become available.

From: www.gamespot.com

Sources speaking with ) have indicated that the Xbox maker has created designs for a "simple" non-gaming set-top device that will stream video and "other entertainment options."

However, Microsoft is reportedly not sure how or if it will move forward with the device.

The unnamed sources said the Xbox TV device has gone through "several" design iterations, including "recent" prototypes that operated with Microsoft's Kinect technology.

A Microsoft spokesperson declined to comment to The Wall Street Journal and to GameSpot.

Microsoft's overall ambition is to create "common experiences" between multiple products, the sources said, similar to the ecosystem in which Apple's various products exist.

The company has begun to lay the groundwork for this initiative by telling its development teams to write applications using recently developed coding standards. The goal of this effort is to simplify the process by which developers can create programs for various devices, whether it be an Xbox, a smartphone, or a PC, the sources said.

The supposed Xbox TV device was first spoken of last year, when that this Xbox-branded set-top box would release in 2013 running on a modified version of Windows 8. It is rumored to being a "low cost" alternative to the next Xbox and will support casual games, but not "full" Xbox titles.

Microsoft is widely believed to formally unveil its next Xbox during an at the company's headquarters in Redmond, Washington on May 21.

This announcement will "mark the beginning of a new generation of games, TV, and entertainment." The event will be streamed through Xbox.com, Xbox Live, and Spike TV in the United States and Canada.

From: www.gamespot.com

"Xbox will be back at gamescom this August," wrote Microsoft social marketing manager Graeme Boyd on . "Next chapter of Xbox gaming experiences on show."

Microsoft , saying it would instead focus on smaller events.

Gamescom 2013 takes place in Cologne, Germany August 22-25. Nintendo also skipped last year's show but .

Microsoft did not give any specifics regarding what it will show at Gamescom, but the company is widely believed to formally unveil its next Xbox during an at the company's headquarters in Redmond, Washington on May 21.

This announcement will "mark the beginning of a new generation of games, TV, and entertainment." The event will be streamed through Xbox.com, Xbox Live, and Spike TV in the United States and Canada.

From: www.gamespot.com