No information regarding the exact date or venue of the rumored announcement was divulged.

A suggested Microsoft would announce the new platform during a one-off media event later this month.

A Microsoft representative told GameSpot, "We do not comment on rumors or speculation. We are always thinking about what is next for our platform, but we don't have anything further to share at this time."

Though Microsoft has not officially spoken about the Xbox 720, speculation about the platform has not been lacking. GameStop CEO recently said the console is a "," adding that the "world is going to stand up and take notice" when Microsoft finally shares details about the system.

According to past reports, the Xbox 720 may , among other features.

Microsoft has previously .

From: www.gamespot.com

"We've been spending a lot of time with Microsoft, but we have to let them take the lead on this, but it will be a very hot, compelling device," Raines said. "They are doing some really cool stuff, and I'm eager to hear them start their announcements because I think the world is going to stand up and take notice."

Raines is bullish on the vitality of consoles overall. He said negative sentiments about new platforms is not a new phenomenon for the upcoming console transition. In addition, he said internal data shows strong demand for the PlayStation 4 and noted this enthusiasm is likely to be matched for the Xbox 720.

"We don't subscribe to that. The cool thing with GameStop is, we've got a lot of gamers here and we've got a lot of people [on the team] who've seen every console cycle. And what's interesting to me - I was talking to one of our founders, Dan DeMatteo, and he was telling me every console cycle you get people who will say 'there will never be another console,' or 'what else can the consoles do?' And we just believe it's a cycle and we just haven't had a new product in so long. But we certainly don't believe that the new consoles won't be as exciting," Raines said. "There's a lot of demand for PS4, and I think there will be for the next Xbox as well, once it's announced."

GameStop shares this week .

Microsoft is rumored to have its next-generation platform to announce the Xbox 720.

From: www.gamespot.com

The Grapevine, Texas retailer rose to its highest level since April 2009, closing yesterday up 6.4 percent to $29.76. The stock is doing even better today, up 1.04 percent to $30.07 at press time.

Sterne Agee analyst Arvind Bhatia issued a note to investors on GameStop predicting an uptick in sales once the PlayStation 4 and potentially the Xbox 720 arrive later this year.

In addition, obtained an investor note from Ascendiant Capital Markets analyst Edward Woo, who echoed Bhatia's comments.

"The new core gaming consoles by Microsoft and Sony will drive consumer interest and demand for video games over the next several years," Woo wrote.

Janney Montgomery Scott analyst Tony Wible, according to Bloomberg, said GameStop will gain further market share once the next-gen platforms arrive.

All three analysts have a "buy" rating for GameStop.

As part of its , will lead to significant growth.

From: www.gamespot.com

"We know that Sony will introduce the PlayStation 4 globally in 2013, but we are still waiting to see what Microsoft's final plans are," Hogan said (via translation). "We have scenarios with one console introduction, as well as with two."

When Sony , it said the platform would be available during holiday 2013, but did not note if that date was for North America or other regions.

The PlayStation 3 did not have a global launch, releasing in North America during November 2006, before coming to Europe in early 2007.

Microsoft is rumored to have its next-generation platform to announce the Xbox 720.

From: www.gamespot.com