In Theory: What If There's More Than One Next-Gen Xbox?

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During E3, Phil Spencer talked about "the next Xbox consoles" and reports discuss a family of machines codenamed 'Scarlett', set to arrive in 2020. So if there's more than one new Xbox in development, what could Microsoft have cooking? Rich has some theories...
Here's our video on the technologies available to MS and Sony for next-gen:
Giant Bomb's E3 interview with Phil Spencer is well worth a watch:
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