Xbox 720 to be six times faster than current 360, coming fall 2013

The successor to Microsoft’s wildly popular Xbox 360 gaming console, tentatively known as the Xbox 720, will feature a power plant that is reportedly six times faster than what the current console is capable of. Sources close to the project have told IGN that production on the GPU used in the next-generation console will kick off by the end of 2012 for a fall 2013 release.

Contrary to earlier rumors, it is now believed that the 720 will feature graphics based on AMD’s 6000 series GPU rather than the 7000 series Southern Islands GPU that had been previously pegged for the system. More specifically, the GPU will be similar to the AMD Radeon HD 6670 GPU and feature multi-display out, DirectX11, 3D and 1080p HD out. Graphics cards based on the HD 6670 currently start around $79.99.

As noted, the GPU should be good for real-world performance that is six times better than the Xbox 360 and about 20 percent better than Nintendo’s next-generation console known as the Wii U. Nintendo's Wii U is expected to be released in the second half of 2012.

Developers will likely get their hands on development kits based on the system’s final configuration as early as August in order to give them plenty of time to create games for the console. The 720 is expected to launch in late October or early November in time for the 2013 holiday buying season. No projected price for the system was given.

Sony PlayStation devices hit 6.5 million unit sales over holidays

Sony had a strong showing during the busy holiday shopping season, the company announced last night.

Between November 21 and January 5 in Japan and Asia, and November 21 and December 31 in North America, the company sold 6.5 million PlayStation hardware units worldwide. That figure takes into account sales of the PlayStation 3, PlayStation Vita, PlayStation Portable, and PlayStation 2.

PlayStation 3 sales were especially strong, hitting 3.9 million units worldwide during the shopping season. Sony also announced that it sold 500,000 units of its new portable, the PlayStation Vita, across Japan and Asia. And although that device is replacing Sony's PSP, the company said that the last-generation portable was still able to reach 1.6 million unit sales during the shopping season.

Although Sony didn't break out PlayStation 2 sales, some simple math reveals that the company likely sold about 500,000 units of the console. That's especially impressive, considering Sony launched the PlayStation 2 over 11 years ago. Its longevity is rare in the gaming world.

But for now, Sony's focus is on the PlayStation 3. And on that front, the company seems especially bullish, saying that its strong holiday sales have helped keep it on pace to hit its annual sales target of 15 million units. To put that figure into perspective,Sony sold 14.3 PlayStation 3 units its previous fiscal year, and 13 million units the 12-month period before that.

That said, Sony isn't necessarily out of the woods. The PlayStation 3 is still being outsold by the Xbox
360 each month in the U.S., and there is little chance of that changing anytime soon. Plus, with Nintendo launching the  U later this year, there's a strong possibility Sony could find its console sales start to slump as consumers shift their spending to the Wii U.

But luckily for Sony, as it showed at its CES press conference, the company is about more than just video games. However, it did take some time to reconfirm one important detail to gamers: its PlayStation Vita will be launching in the States on February 22.