Xbox 720 is rumoured to be announced at a Microsoft event on May 21st. Following claims from tech blogger Paul Thurrott, sources close the matter have said the same thing to tech site The Verge.

We covered Thurrott’s claims here. I’d suggest reading them as they seem to shed light on many mysteries surrounding Microsoft’s rig, including price windows and more.

Now, The Verge’s Tom Warren has written, “Microsoft had originally been planning to unveil its next-generation Xbox details at an event in April, but The Verge has learned that the company has pushed this back to May.

“Windows watcher Paul Thurrott revealed recently that Microsoft is planning an Xbox event for May 21st, and we understand this date is accurate. This is the tentative date for a next-generation Xbox announcement, but Microsoft had originally planned an April 24th event.

“Sources familiar with Microsoft’s Xbox plans have revealed that the event will be at a small venue with a focus on providing the very first details on the next Xbox, codenamed Durango, and Microsoft’s plans for Xbox in 2013.”

http://www.vg247.com/2013/04/08/xbox-720-may-21st-reveal-more-sources-back-up-date-rumour/

May 21st sounds a bit late to me. It's just 2-3 weeks away from E3 and Sony is known to start revealing games ~1 month prior to E3 themselves, so I doubt the event would have the impact MS wants at that date, but we'll see.