Doug Creutz, an analyst for Cowan & Company, thinks the next Xbox could launch in fall of 2013.
This is according to a research note reported by CVG, which goes against rumors that the Xbox 720 will be digital only.
"Although not yet confirmed by Microsoft, we believe the next generation Xbox console could launch in the fall of 2013," reads Creutzer's note.
"We believe a digital-only next-gen Xbox is unlikely given risks to both Microsoft's market share and the gaming ecosystem as a whole from any attempt to kill used games."
"However," he concludes, "we do believe that Microsoft may be targeting a cheaper physical solution in an effort to get the initial price of the box down and speed up new console adoption, which would be bullish for software publishers."