According to a report from IGN, the next-generation Xbox model will begin shipping to customers in late October or early November of 2013 with about six times the processing power of the current-generation Xbox 360. 

The game console's graphics processing unit (GPU) will reportedly begin being produced in late 2012, and will be based off of AMD's 6000 GPU series. "In real terms, the Xbox 720's raw graphics processing power is expected to be six times that of the Xbox 360 and will yield 20-percent greater performance than Nintendo's forthcoming console, the Wii U."

Game developers will receive development kits based on the console's final specifications in August 2012, according to the report.