• A general view of the atmosphere during Variety's 4th Annual Power of Comedy presented by Xbox One, not the Xbox Two

A general view of the atmosphere during Variety's 4th Annual Power of Comedy presented by Xbox One, not the Xbox Two (Photo : Michael Buckner / Getty Images for Variety)

Microsoft has not yet officially announced the Xbox Two but speculations are claiming that it would be better than the PlayStation NEO and that it does exist.

More rumors and leaks are continuing to surface regarding the two new upcoming consoles from the tech giants. Sony has the PlayStation NEO while Microsoft could launch the Xbox Two.

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It has been several years since the Xbox One and the PlayStation 4 has been released. More games are still being developed for the current gen-consoles.

Meanwhile, PC gamers have been upgrading their gaming rigs almost every year as new lines of video cards roll out annually. In fact, NVIDIA has just revealed their new GTX 1080 and 1070 video GPUs.

The Xbox Two, or the Xbox NeXt, is rumored to be more powerful than Sony's upcoming console. The reason behind this is because Microsoft would be making a whole new step forward while Sony will only be upgrading their current PS4.

NeXt would be dishing out 10 TFLOPs for its computing performance. This means that the console would be able to run games at 60 frames per second on a 4K resolution.

Phil Spencer from Microsoft said that there will be another console from the company, Crossmap reported. While he did not officially announce that the Xbox Two is in development, the comment does confirm that the console is already in development.

Sony could reveal the PlayStation NEO by the end of the year. However, fans may have to wait for the Xbox NeXt a little longer as it could still be in the early stages of development from the engineers and software coders.

Microsoft's Xbox Two would mean a departure from the current generation of gaming consoles, the Motley Fool has reported. Console gaming could enter another era.

Graphics could be upgraded. PC gamers have enjoyed better graphics on their computers as they can easily upgrade anytime they want. Microsoft and Sony could finally bring the much-needed upgrades to their console customer base.

Fans will have to wait for the official announcement of the Xbox Two and the PlayStation NEO. There are rumors that they could be teased at the upcoming Tokyo Game Show or E3 expo.