New rumors suggest that Microsoft is planning on launching a new version of the Xbox One console next year.

According to an insider, the upcoming model will be lighter than the current system and could possibly compete with a prime product from Apple.

News about Microsoft's mysterious project was reported by Brad Sams, the blogger for the Redmond-based tech giant. According to Sams, his info regarding the matter came from an internal source. Details about it are still but the blogger noted that it will exclusively cater to games from the Windows Store.

"I have heard from internal sources that the company is considering plans for a lightweight Xbox One that may only be for Windows store games and would compete with the Apple TV," he wrote in the tech site Petri.

"But it's not clear if these plans have been scrapped," he added.

Sams then went on to say that Microsoft has already been planning on releasing a lighter Xbox One model since the console came out in 2013. If the company does decide to proceed with the project, the blogger speculated that it could come out sometime during the latter half of 2016 and might come with a lower price tag than the Xbox One, which is currently valued at $350.

Despite the rumors and insider info, Microsoft remained tight-lipped on the matter.

"We do not comment on rumor or speculation," a spokesperson from the company told Gamespot.

Despite the lack of confirmation, the gaming news site noted that it's highly possible for the company to create a toned down version of the Xbox One. After all, Microsoft already has a history of releasing new iterations of its consoles.

Back in 2007, the tech giant released the Elite version of the Xbox 360. This came with a larger storage space at 120GB. Then, three years later, Microsoft offered the Slim variant of the Xbox 360 with a 250GB hard drive.

Based on the time difference between the models, it seems appropriate for Microsoft to launch a new Xbox One model in 2016. This will certainly go well with the company's promise of delivering the best lineup of games next year for its next-gen console. Some of these include "Gears of War 4," "Killer Instinct Season 3," "Scalebound" and "Crackdown 3."

But, since Microsoft refuses to provide a clear answer regarding the existence of a lighter and cheaper Xbox One console, gamers can only speculate for now as to what they can expect from the company in the future.