Xbox One fans or those who are planning to purchase an Xbox One in the near future need to wait for a month more before finally deciding. If rumors prove to be true, a refreshed model will be announced soon and may possibly help fans in deciding which model to purchase.

Based on the recent round of reports about Microsoft's video game console, it will be having a slimmer profile, new hardware, and a new color scheme for the controller. It is also mentioned that there might be two units to be unveiled next month.

It is highly speculated that a refreshed model will surface at the upcoming Electronic Entertainment Expo (E3) 2016, which is a great venue to showcase new products, and Microsoft may use this big opportunity.

Polygon reported that during the company's Build 2016 developer conference back in March, Xbox division head Phil Spencer mentioned that the company is looking for ways to upgrade their console so it may work flawlessly with their Windows 10 UWP or Universal Windows Platform.

Spencer said, "You'll actually see us come out with new hardware capability during a generation."

He added, "We see on other platforms whether it be mobile or PC that you get a continuous innovation that you rarely see on console. Consoles lock the hardware and the software platforms together at the beginning of the generation. Then you ride the generation out for seven or so years, while other ecosystems are getting better, faster, stronger. And then you wait for the next big step function."

The Xbox boss also said that hardware upgrades may soon be available for Xbox One owners to allow it to keep up with the latest technology.

A previous report mentioned that a white controller may also be released alongside the refreshed console, although there won't be a new function and it is for aesthetic purpose only. Tom's Guide added that there is also a possibility that the white controller may possibly be the programmable Elite Wireless Controller.

Additionally, an Elite version of Xbox One is also rumored to be presented during the upcoming conference. However, there is very little information available for now.

A report from Thurrott also suggests that the Windows 10 interconnectivity which Spencer has previously mentioned maybe seen at the upcoming event.

There is no price estimate yet for the refreshed Xbox One, but it is expected to be in the US$400 price range, just like the rumored upgraded PlayStation 4.