Microsoft says Xbox 720 a no-show at E3

Microsoft is crushing the hopes and dreams of gamers who hoped to see a new Xbox in June.

The company has come forward to quash increasingly strengthening rumors that it planned to unveil the successor to the Xbox 360 at the annual E3 trade show.

According to a statement quoted by Kotaku, Microsoft said, “While we appreciate all the interest in our long-range plans for the future, we can confirm that there will be no talk of new Xbox hardware at E3 or anytime soon. For us, 2012 is all about Xbox 360-and it’s the best year ever for Xbox 360.”

The company denied any discussion that the console might be past its prime, adding, “The console is coming off its biggest year ever-a year in which Xbox outsold all other consoles worldwide. Xbox 360 didn’t just outsell other consoles, it also outsold all other TV-connected devices like DVD players, as well as digital media receivers and home theatre systems. And in our seventh year, we sold more consoles than in any other year-defying convention.”

Nevertheless, some analysts believe it is time for a big hardware refresh for Microsoft. The Xbox 360 has been around since 2005, and within its own platform there is fragmentation.

People who bought their console within the first year could very well still be playing on a device that has no HDMI port, no wireless connectivity, and no hard drive. Meanwhile, they’re playing alongside people with 250+ GB hard drives, the ability to stream 3D gaming through HDMI, and built-in Wi-Fi.

Microsoft has pushed as far as it can when it comes to updating the hardware without messing with the core internal structure, so the time for a new Xbox should be sooner, not later.