Rumors claim that Xbox is planning a significant hardware overhaul of its current-gen consoles.

According to WCCFTech, prominent industry leaker Moore's Law is Dead on YouTube claims that Microsoft is preparing a "refresh" of the Xbox Series X and Xbox Series S, with the Series S redesign arriving next year and the Series X redesign arriving by 2023.

The Xbox Series S is expected to be the first to be redesigned, ostensibly to compete with the predicted PS5 Slim. If the speculations are true, both consoles will be released around the same time in late 2022.

New bespoke AMD APUs based on the 6nm process are said to be included in both the Series S and the Series X, making them faster (either slightly or significantly). This revised processor could have a computational performance of more than 5 TFLOPS, which is clearly superior than the present Series S console.

However, it is the pricing point that can turn the PlayStation 5 on its head.

Moore's Law is Dead said in a video uploaded on YouTube that the Xbox Series S update will cost less than $350, undercutting the standard PS5 model and maybe the PS5 Slim.

Furthermore, the upcoming 6nm AMD APU may include an RDNA2 GPU with all 24 CUs (Compute Units) unlocked.

Gaming systems have constantly been renewed over the years, even back when the PlayStation 2 was released.

According to BeStreamer, Microsoft did not revamp the Xbox consoles until Xbox 360 came, which featured two revisions: the Xbox 360 S and the Xbox 360 E.

The Xbox One, for example, had the One S and One X variants, both of which provided a significant boost above the original model.

However, these reported Xbox Series upgrades do not appear to be in line with what Xbox CEO Phil Spencer indicated in June.

According to IGN, Spencer stated that the company's current-gen consoles have "no immediate refreshes on the horizon." Spencer, on the other hand, did not explicitly state that there are no plans to update the hardware.

If there weren't any speculations about competing PlayStation consoles, none of this would have happened. The PS5 Slim revision may have appeared due to the new PS5 model first appearing in Australia, which included a cheaper heatsink, Press-Start.com.au said.

Still, Sony has no official confirmation on whether or not major hardware revamps yet. But, given how many times they've done it with previous-generation consoles, it's safe to believe they have.

In any case, don't get your hopes up on Xbox Series refreshes until Microsoft officially announces them.

GettyImages-1229559109 [Representational image] Microsoft's Xbox Series X (black) and series S (white) gaming consoles are displayed at a flagship store of SK Telecom in Seoul on November 10, 2020. JUNG YEON-JE/AFP via Getty Images