While the Xbox Series X will be the star of the new generation of Xboxes, the entry-level Xbox Series S may also be on the horizon. And new leaks have revealed important information about these two consoles, as well as a variety of potentially exciting new products from Microsoft.

According to WindowsCentral, Microsoft should announce a new Xbox console in May, along with new Surface products and Xbox-branded headphones. It also states that the Series S appears to be being home tested by Xbox staff, suggesting that the console is nearing completion and that an announcement may be imminent.

The Xbox Series S, also known by its codename "Lockheart," is rumored to have a 4 teraflop GPU. This is far less graphics power than the Xbox Series X's 12 teraflops, but more than the Xbox One and Xbox One S's 1.3 and 1.4 teraflops, respectively.

Microsoft's current top-of-the-line Xbox One X has 6 teraflops of power, suggesting that Microsoft is adhering to the S and X naming conventions for standard and advanced performance.

The Series S also boasts NVME memory for faster loading and is said to be capable of limited ray tracing for more immersive lighting. The Series X boasts the same memory on its own SSD and full-fledged AMD ray tracing in its arsenal of new processing tricks.

WindowsCentral reports that new Surface devices, including the rumored Microsoft Surface Go 2, will also be available next month. Microsoft also claims to be working on wireless headphones for Xbox, but it is currently unclear if these new headphones will be at a premium price point similar to the existing Surface Headphones or if they will be more affordable.

With E3 2020 cancelled, one industry analyst believes that the PS5 and Xbox Series X console announcements will take place in May. Several games may also be announced at the Xbox event, including the rumored reboot of Fable and the upcoming Hellblade 2.

There is still no information on pricing or availability of future Xbox consoles or the PS5, but hopefully these impending announcement events will fill us in. We expect the price range to be in the neighborhood of $500, with the Xbox Series X probably being more expensive and the PS5 slightly less expensive. Barring any major delays, both will likely appear this November.