Xbox 720 Specs Likely Announced Alongside PlayStation 4 in March?

Microsoft may unveil the Xbox 720 at the Game Developers Conference in March.

The company is likely to compete with their product which may be announced alongside PlayStation 4, the new gaming platform by Sony.

The PlayStation 4 will likely be the main competitor for Microsoft's next generation Xbox, according to a Monday report by VideoGamer.com.

The report quotes the February issue of Game Informer magazine which stated that an "Apple-style press conference" will take place at the Game Developers Conference which will take place Mar. 25-29.

The latest claims suggest that the two tech giants will make their announcements earlier than expected, according to The Christian Post.

"E3 in June may be the industry's biggest event, but both companies want to give their systems their own limelight," the video game website stated. "That doesn't mean E3 won't be without its surprises. Next-gen games will be announced at the convention in preparation for the systems' release at the end of the year."

Previously, tech analysts expected Microsoft and Sony to unveil their latest products at the E3 tech and gaming expo in Los Angeles on June 11.

"Given the fragile state of the console game market, we expect the E3 trade show in June will take on added significance, most likely providing the industry with the first public opportunity to examine next-generation hardware," said Colin Sebastian of Baird Equity Research , according to VideoGamer.

Microsoft's new Xbox 720 is rumored to have an 8-core CPU, a customized AMD 8800 series GPU, and 8 GB of RAM.

The PlayStation 4 is rumored to have Ultra High-definition resolution, four or eight processing cores, 4.0 gigahertz, an AMD's Radeon 8000 series of discreet graphics chip, and at least 240 gigabytes internal storage.

The price for both the gaming consoles is rumored to be around $350 to $400.