The successor to the Xbox 360 and PS3 will be revealed at E3 2012, according to the latest speculation from MCV. Microsoft has long been rumoured to detail its next-gen plans at E3 2012, and MCV's third-party publishing sources claim the firm had signalled to partners this will happen.

Nintendo also plans to unleash its new video game console, Wii U, at the biggest industry event of the year.

Industry insiders aren't expecting price or launch details for the new Xbox or PlayStation. But their unveiling could be a perfect spoiler to the pre-Christmas launch date and price that will be revealed for Wii U in June.

E3 runs from June 5-7 at the Los Angeles Convention Center.

As it was expected, Micrrosoft and Sony have not provided any comment.