Software giant Microsoft will be unveiling the new version of its popular Xbox gaming console at a Tuesday news conference in Redmond, Washington. The unveiling of the next-generation console - the third Xbox iteration - comes eight years after Microsoft introduced the existing Xbox 360 model in 2005.

According to some reports, while Microsoft will reveal the new Xbox at the high-profile news conference, which will be broadcast worldwide, the company will apparently refrain from divulging all the details about its next-generation console.

Some of the details which Microsoft will seemingly withhold at the Tuesday event will probably not be announced till June 10, when the company will be holding at a bigger media event at the E3 game conference in Los Angeles; a venue where Sony will unveil its PS4 console.

The new Xbox will reportedly be unveiled by the company's Interactive Entertainment Business president Don Mattrick; with some game-industry bigwigs, and possibly even celebrities, highlighting the Xbox music and movie capabilities of the console.

About the noteworthy improvements which Microsoft is likely to bring about in its thirds Xbox version, it is widely speculated that the console will boast a new version of the Kinect motion and voice sensor; a Blu-ray disc player; and additional TV capabilities. In addition, the console will also likely have PC-like architecture with AMD processors.