Microsoft's Xbox One and Sony's PlayStation 4 are considered as the most popular gaming consoles at present. Thus, with Sony rumored to release the PlayStation 4.5 NEO in the coming months, its main competitor, Microsoft, is also expected to unveil its own upgraded console — the Xbox Two.

However, Microsoft chose not to respond to the latest Xbox Two reports. Xbox head Phil Spencer previously talked about the possible successor to the Xbox One. He revealed that while they are already making plans for its next-generation console, the current Xbox One is still performing quite well. If they are to release a new console, then it will have to feature very substantial updates.

With today's current trends in technology, many expect the Xbox Two to come with support for 4K gaming and upgraded hardware. Microsoft's substantial upgrades could also mean that the Xbox Two would be less like the Xbox One and will have more integration with the PC. It may also be connected to the Microsoft HoloLens.

Reports from several media outlets suggest that Microsoft will unveil the Xbox Two at the E3 2016 trade show this June. Microsoft is believed to have filed with the FCC regarding an upgraded console that will be released at E3.

If this possible release date holds true, then Xbox Two appears to have been designated as the counterpart of the upcoming PlayStation 4.5 NEO. Both consoles will also compete with the upcoming Nintendo NX to be released in March 2017.

On the other hand, there are also reports that suggest that Microsoft will only introduce the Xbox One Slim at the E3 2016. Then, the Xbox Two would be delayed until 2020, in order to compete with the PlayStation 5.

Without any official statement from Microsoft, the latest reports should be taken with a grain of salt. More will be revealed as the E3 2016 draws near.