Microsoft has no plans to upgrade the hardware inside its current Xbox games consoles beyond the recently announced storage increase for the Xbox Series S.
In an interview with Bloomberg following the Xbox Showcase last week, Xbox boss Phil Spencer was asked if hardware upgrades were planned for the consoles. He replied, "That’s not the feedback we’re getting right now ... we’re pretty set on the hardware we have."
The Xbox One was released in November 2013, with a higher-end hardware version called the Xbox One X released in November 2017. The Xbox Series X launched in November 2020, meaning a hardware upgrade should appear in November 2024 if Microsoft copies what it did last generation. As that's still well over a year away, Spencer confirming such an upgrade is planned next year would be detrimental to sales of the current Xbox models.
Microsoft has done little to tweak the Xbox Series hardware since launch, where as Sony has carried out major revisions to the PS5 hardware. The latest version of the PS5 uses a different internal design and a more efficient Oberon Plus 6nm processor. Meanwhile, Microsoft is thought to be prepping an Xbox App Store for Android and iOS devices, which will launch at some point in 2024, and is continuing to fight regulators to get its $69 billion Activision Blizzard acquisition completed.