It looks like Microsoft won't be unveiling a next generation home console at this year's E3, with Microsoft's senior marketing director Jose Pinero stating that "At the moment, we have nothing to announce."

Rumours have been circulating for a while that along with Nintendo's planned unveiling of the Wii U expected to occur at E3, possibly with some playable demos, Microsoft and Sony would follow suit, showing off their own next generation console offerings. However, just a few days ago Executive Deputy President Kaz Hirai said Sony wouldn't be debuting a Playstation 4 - now it looks like the Xbox 720 'Loop' won't be showing up either.

Read more: http://www.itproportal.com/2012/01/17/microsoft-no-xbox-720-announcement-e3-2012/#ixzz1jkzwxs9Q