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Jimbo1337 said:
You also have to consider that these companies had no intentions of cutting this generation short at the very start, so I highly doubt they have much in the works for their new console. There is no way that they would dump millions of dollars into R&D to then just scrap it and start over so soon.

Why do they have to scrap it and start over? They could use the Xbox One as basis and build on that an enhanced Xbox One called "Xbox Two" or "new Xbox One" (faster but compatible x86-APU, 12 GB RAM, bigger eSRAM).

It would play the same games as the old Xbox One, but in 1080p & solid 60 fps. Every XBO game would still run on the old model (in lower fidelity), so owners of that wouldn't be forced to upgrade. And Microsoft could offer fair trade-in offers for the ones who want to upgrade.

Microsoft also manages to "dump" millions of dollars into R&D in a faster Surface Pro every year, so an enhanced & compatible home console would be theoretically possible.