The next generation Xbox rumour mill has been grinding incessantly for the last couple of weeks, but now Edge is reporting that Ubisoft Montreal is hard at work on 'target boxes' for the launch of the Xbox 360's successor. Apparently the console is expected to launch at retail in Christmas 2012.
Ubisoft is known for heavily supporting all newly released hardware, and the original Assassin's Creed began development on 'target boxes', so it seems completely reasonable that the Montreal team would be working on something for launch right now -- it's the projected 2012 release date that's interesting here.
With Nintendo launching the Wii U next year, and Sony reportedly working on the next PlayStation, it looks as though we're slowly heading into the next generation of consoles a little sooner than initially expected. It would be my own guess, however, that the next Xbox will be announced next year, but most likely slip into 2013. Although I have been wrong about these things before!