One of the more surprising announcements made during Microsoft's press conference last night was that Phil Spencer confirmed on stage that the company is working on the next Xbox console. While this hardly is surprising, this kind of soft announcement is rarely made and normally we're made to wait until it's announcement time.
According to well known Microsoft insider site Thurrot (which has delivered several of the more accurate rumours regarding Microsoft before the E3 press conference), the codename for this upcoming console is Scarlet. They don't offer any more details, but if accurate it seems like things are moving ahead over at Microsoft, this after plenty of rumours regarding PlayStation 5.