It has been rumored that Microsoft will be releasing two consoles in upcoming E3, and yet rumors are on the air that the better and powerful console will be left for 2017, while a slimmer version will be released for this year.

According to reports on Kotaku, one of the new consoles set to be launched by Microsoft, will be almost four times more powerful than the present Xbox One consoles. Additionally, it is rumored that the announcement was provoked by Sony's expected upgraded PlayStation 4 console.

The Sony's revamped PlayStation 4 has no release date yet, but according to rumors, it can be expected in the E3 or at an event shortly after.

Notably, Microsoft is also planning a larger update of the Xbox One for next year, according to The Verge. The update, codenamed Scorpio, will consist of a more powerful GPU to support 4K gaming, and will also be capable of supporting the Oculus Rift.

Microsoft has been reportedly pursuing its partnership with Oculus, but it is unclear if the console will contain native support of the technology on the new Xbox One, or the previously announced games, which has been streaming in the VR headset.

Additionally, according to current plans of Microsoft, the smallest version of Xbox One is scheduled to be released in August 2016, although pricing for the system has not been finalized.

Microsoft's newest consoles will be part of the "Project Helix", and will reportedly converge with Windows 10 gaming and Xbox. Microsoft will be expected to announce more about its efforts towards the end of this month at E3, and also announce the smallest Xbox One console, which will be shortly available.

Viewers need to stay tuned to Microsoft's E3 event at 12.30 p.m. ET or 9.30 a.m. PT on June 13 to have more information.