A source has reported that the successor to the Xbox 360 will in fact be shown at E3 2012 with Timesplitters 4 set to be a launch title.

Crytek is using Microsoft's DirectX 11 as the current basis for next-generation development. Tessellation, multithreaded rendering, and compute shaders are the three headlining features for DirectX 11.

Timesplitters is being developed with the CryEngine 3 and with the rumored reveal of the Next Xbox Microsoft is hoping to unveil the new console before Sony.

Both Microsoft and Crytek declined to comment.

With this news what does it say about Halo4? Will the new Halo trilogy run on Microsoft's new console?