Rumors about a new gaming console from Microsoft have been making the rounds lately. It is said that the gaming platform, dubbed as the Xbox Two, will be unveiled soon, possibly at the 2016 Electronic Entertainment Expo (E3).

News about the rumored upcoming gaming consoles from tech giants Microsoft and Sony have been making the headlines for quite some time now, and both companies are said to be competing head to head with their new releases. Sony is reportedly preparing for the launch of its PlayStation 4.5 or "PS4 Neo" which is rumored to arrive in the fall, while Microsoft will be way ahead with the Xbox Two's expected release in June.

It remains unclear as to what Microsoft's new gaming console will be about but it is assumed that the company will top what Sony has to offer. Rumored specs of the new PS4 Neo include a 4K resolution, and it is expected that Microsoft won't fall behind by adopting the same technology.

More interestingly, the Xbox Two is also said to offer virtual reality support and will be compatible with Windows 10. The Xbox Two is also speculated to have a better Graphical Processing Unit (GPU) compared to the one found on its current gaming console.

Under the hood, speculations are rife that the new device from Microsoft will use an AMD chipset. If this proves to be true, there's a possibility that the tech giant will do away with the disk drives and will use Steam instead. 

GamenGuide reported that it's also possible that Xbox Two won't need physical drives but will instead rely on an internet connection to play games. The news outlet also speculated that there might be varying models of the console, including one that has a bigger hard drive capacity and maybe another that doesn't have physical disk drives.

Amidst the rumors and the hype surrounding the console, Microsoft has not issued an official statement regarding the release of the Xbox Two. However, tech aficionados believe that this new device might be launched at E3 2016.

More updates are expected to be dropped leading to the start of the game event.