Xbox Two release date, specs rumors: Device reportedly 4 times powerful than PS4, might be unveiled at E3 with Xbox mini

Two new Xbox devices are expected to arrive next month.Reuters/Jonathan Alcorn

The so-called Xbox Two is said to be on Microsoft's cards for a 2017 launch, according to various sources. The Redmond-based software giant is also looking to release a slimmed down version of the Xbox One.

The new Xbox console dubbed the Xbox Two is reportedly codenamed Scorpio. Polygon reports that Microsoft will upgrade it to 6 teraflops, which is four times the power of the Xbox One.

Microsoft is going big on the said department because it is where Sony's PlayStation 4 repeatedly trounced it. The latter can play titles at higher resolution and framerate than the Xbox One, something that Microsoft wants something to do about.

While Sony also has something up its sleeve in the form of the PS4 Neo, the rumored power of the device is only at 4.14 teraflops, which should be dwarfed compared to the Xbox Two Scorpio's 6 teraflops.

The site says that Xbox Two will be both a bold new step to the innovation of the Xbox platform but will also serve as a continuation of the Xbox One. The next-generation console is said to be powerful enough to support Virtual Reality technology through Oculus Rift.

It is expected to be released late next year, although an announcement during the Electronic Entertainment Expo (E3) next month is expected. Some say that Microsoft is saving it up for an early 2017 unveiling.

What the media outlets are one in reporting is that during th massive gaming convention, the so-called Xbox mini is said to be unveiled as well.

This device, according to The Verge, will be "40 percent smaller" than the Xbox One, making it the smallest Xbox to date. The mini Xbox console is rumored to offer a 2TB hard drive as well.

Microsoft blogger and podcaster Brad Sams, who is adamant of the existence of the Xbox mini, also claims that a pair of streaming devices will also be launched next month. The first one is like "a Roku style device" while the second one will boast more features.

It looks like Microsoft will have a lot to offer at the E3. The event is scheduled June 14 to 16 at the Los Angeles Convention Center.