A juicy rumor from SemiAccurate suggest it.
The source says that production for the initial batch of Xbox devkits has already started, with units' expected arrival by March at some studios.
This is just a rumor but with a strong base to support it.
It appears that Microsoft's succesor for the actual Xbox 360 devkit has already entered production stage and will be using some variant of the 28nm ATI Radeon HD7000 series chips in it. Even if production of devkits hardware has started, the release of the next xbox would be far away. Retail units for consumers are expected to be produced later this year for a 2013 release, so E3 2012 would be the selected fair for the console to be presented to the big public. ¡Fingers crossed!
More details on the source link below.
NEWS SOURCE: Xbox 720 chips already in production (via) SemiAccurate
Our thanks to 'Kaos2K' for this news rumor story!