• An Xbox One, not the Xbox Two, and its controller on display at the Microsoft Xbox booth

An Xbox One, not the Xbox Two, and its controller on display at the Microsoft Xbox booth (Photo : Kevork Djansezian/Getty Images)

Microsoft (NASDAQ: MSFT) has been quiet about the rumored Xbox Two console despite the increasing speculations of competitor Sony's PlayStation NEO but reports claim that the former would be five times more powerful.

It has been several years since Microsoft and Sony (NASDAQ: SNE) has released groundbreaking consoles for the video game industry. The current PlayStation 4 and Xbox One is starting to age especially as NVIDIA (NASDAQ: NVDA) recently unveiled their new GTX 1080 and GTX 1070 GPUs for the PC gamers.

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Sony might already be busy with developing the PlayStation 4.5, or more popularly known as the PlayStation NEO or the PS4K, according to JobsnHire. There have been rumors that the PlayStation 5 has been canceled to make way for the new console, which will not be an entirely new one but rather just an upgrade.

Microsoft's Xbox Two, or codenamed Xbox NeXt, will be what the fans expect: a next-gen console. This would give the Redmond-based company over Sony considering that their hardware will be more powerful than just an upgraded version of the PS4.

One unverified source told X-ray, an Italian video games news site, that the new Xbox will be more powerful than Sony's new upgraded console. The source even said that the performance will beat the NEO by up to six times.

The Xbox Two, or the Xbox NeXt, will reportedly have an insane 10 TFLOPs of computing performance power, according to Tweak Town. It could have the capability to run games at 4K resolution with a framerate cap higher than the already-fluid 60 frames per second on most consoles and systems.

There are also rumors that the new console from Microsoft is already in pre-production since February 2016. The company's experience with PC gaming could bring them advantages over Sony in the next console wars.

Nevertheless, PC gamers have already a good reason to upgrade their PCs with the upcoming graphic cards in the following months. NVIDIA has the GTX 1080 and the GTX 1070, while AMD is yet to unveil their new cards with the Polaris technology.

Fans will have to wait for Microsoft's official announcement for the Xbox Two or the Xbox NeXt. Sony might need to reconsider their options if they want to beat competing consoles next year.