Xbox is not planning to stop making consoles3. CEO of Microsoft gaming, Phil Spencer, has confirmed that there will "definitely" be more Xbox consoles in the future1. Spencer has also hinted at "other devices," possibly alluding to a handheld console1.
Rumors and reports regarding the next-gen Xbox include:
Development of the next Xbox console has moved past the early pitch stages and has been fully approved and costed26.
Court documents from the Activision Blizzard case stated that Xbox is planning to release the console by 20282. There was speculation that Microsoft was planning to release a new console in 2026 called Xbox Prime, but this was quickly shut down by an insider2.
Microsoft is reportedly working on a traditional console that would follow up on the Xbox Series X and compete with the PS6, while also developing a handheld, which is said to be the company's "own take on the Steam Deck"9.
Xbox exclusives will likely become exceptions, not the norm7. Microsoft will reportedly only keep future games exclusive to Xbox in exceptional circumstances, like its studio lacking the time or other resources for porting7.