The next generation Xbox console, rumored to be named Xbox 720, will be sporting a GPU based on the Radeon 6000 series, according to a rumor from IGN. The Radeon 6000 series was launched last year, and the Xbox 720 version will reportedly be close to the Radeon HD 6670 — a mid-range GPU. Despite being a mid-range GPU in 2011, it’s still said to be 6 times more powerful than the current Xbox 360 ATI GPU. Mass production of the chip is said to start in late 2012, which could mean a new console launch at the very end of 2012 or the beginning of 2013. Compared to the Wii U, another new console that’s launching this year, the Xbox 720 GPU will be around 20% more powerful.

According to a new report coming from Chiphell, which has a decent track record when it comes to GPU leaks, Nvidia has decided to launch the next generation GPU, GTX 680, earlier than expected. The original launch was slated for March/April, but due to AMD’s slight lead, Nvidia decided to release the card in late-February.

The GTX 680 is said to offer the same performance as AMD’s 7970 card, and will ship with 2 GB of RAM and a clock speed of 780 MHz. The GTX 680 will reportedly be followed by the GTX 700-series later this year.

Sony has released an updated version of the PlayStation 3 console, with a few changes. The weight of the console has been reduced from 3 KG to 2.6 KG, and power consumption has been lowered as well, from 230W to 200W. A few exterior changes have been made as well, with the reorder of buttons and the removal of some LED lights.

The hard drive remains the same: 320 GB for the base version, and the prices will remain the same as well, with a 160GB version for $299 and 320GB for $399. The SKU number for the new model is CECH-3000B. The accessories still include a Dual Shock 3 controller, power cable, AV cable and USB cable — but, still, no HDMI cable.

Well folks E3 is underway and you know what that means – a ton of new announcements from every major name within the gaming industry. One of the biggest announcements to come out of Sony is the announcement of the PlayStation Vita. Before you get too excited thinking this is a PlayStation 4 make note that the Vita is simply the official name of the PSP’s successor previously known as the NGP. For those looking for a bit more background into the Vita naming, according to Sony it means Life in Latin. Now that we’ve got that out of the way let us dive into what the Vita actually offers.

If you weren’t paying attention back when the NGP was announced the PlayStation Vita features a 5-inch OLED multitouch display with 960 x 544 resolution, a quad-core ARM Cortex-A9 processor, a rear touch pad, front/rear facing cameras, dual analog sticks, a d-pad and the rest of the controls you’d expect to see on a Sony console. However, the specs aren’t the only tings Sony made official today as they have also come forth to give us the official pricing scheme for the PlayStation Vita.

Originally many thought the NGP would be priced well over $400 but that isn’t the case. Instead, Sony has let us know that the WiFi-only model will run $249.99 while the 3G enabled model complete with AT&T connectivity will run $299.99. No solid word on when the Vita will actually hit the streets but we’ll keep you posted.