The processor powering the upcoming Xbox 720 has been completed, which means that Microsoft has all the necessary components to actually start producing its next Xbox console.
The Xbox 720, currently codenamed Durango, has been rumored for quite some time and, judging by the recent countdown timer until E3 2013 posted by Xbox community manager Larry Hryb, it's quite possible that the console will make its debut this summer.
Until then, SemiAccurate has posted a new report, saying that the design for the chip powering the next Xbox is complete and that it's going into production in the very near future.
Once the production of the processor begins, Microsoft can start manufacturing the complete Xbox 720 device.
Depending on when the chip enters production, Microsoft is expected to decide when it can safely release the next Xbox without suffering from low stock.