The successor to the Xbox 360 console is on desks at an unnamed Electronic Arts studio, Develop understands.
The new hardware, sent to EA last month, is a very early build with no casing – it is in fact being stored inside a PC shell.
EA developers are getting to grips with the tech to create first-generation software, Develop has been told.
“Quite often when new consoles come around they’re packaged into a PC shell, but actually what’s inside is an entirely new console,” a senior, trusted, well-placed source said.
Microsoft has declined to comment. EA has declined to comment. Develop’s source is not employed at either company.
[Update: A seperate inside source has told Eurogamer that an E3 reveal for the new system is "highly unlikely"]