Speculations suggest that Microsoft may unveil a new Xbox One at the upcoming E3, happening next month. However, the industry is of two minds about the planned upgrade. While some think that this may be Microsoft's answer to Sony's PS4K console, others thinks that the so-called Xbox One Slim is just that – a leaner version of the current-gen console.

The Verge reported that according to their sources, Microsoft is indeed coming out with a new Xbox One, as the Redmond-based tech giant is testing a number of console prototypes. The industry follower then mentioned that some of the prototypes were designed as "modular" and "PC-like," with parts readily swappable for upgrades. Meanwhile, it is unclear if the final design and build based on the prototypes will be the new Xbox One that Microsoft will display at the E3.

Windows Report, however, argues that the supposed Xbox One Slim that Microsoft plans on unveiling may be just as it is – a new Xbox One with slight upgrades, including a slimmer profile. While it is true that Sony is coming out with a new PS4K console sometime soon, Microsoft coming out with a mid-cycle, major upgrade is a disadvantageous move. The Xbox One is still a powerful console, with just two years' worth of market life, and the industry follower sees at least five years before Microsoft finally makes the Xbox One a previous-gen console.

In addition, a PS4K coming out soon is not Sony's new major release. Rather, the upcoming device is to complement the new PlayStation VR. The current PS4 is not powerful enough for VR gaming.

Meanwhile, although Microsoft has yet to announce details on its E3 presence, rumors say that the new Xbox One Slim is one of the major announcements at the event. According to PC Advisor, numerous leaks and supposed filings point out that Microsoft has a mid-2016 reveal in mind.