The new XBox series is expected by 2024, according to electronics firm TCL.

The electronics giant explained that the next generation of the Microsoft gaming console should be released by 2024, in order to keep in line with the usual competition timeline with Sony rival the PlayStation.

During a press event, a TCL representative reportedly said they expect “Gen 9.5” to arrive by 2024 and Piers Harding-Rolls of Ampere Analysis told claimed that while the timing was realistic, but that the low availability of current PS5 consoles could thwart the plans.

He told VGC: "“I don’t expect this to be based on any specific concrete product knowledge, but it is a sensible estimate of when an updated PS5 might be expected to come to market (3+ years after launch). However, the low availability of PS5 and therefore slower than anticipated adoption of the console is likely to impact these timelines. As such, I think it’d be more likely for a mid-cycle upgrade to come late 2024 at the earliest."

The claims come just months after Sony CFO Hiroki Totoki explained that they have "changed" sources in order to combat production issues brought on by a shortage of supplies.

He said: "In different areas… we have changed our source of procurement and also changed our design amongst others. So, we have been capable of coping. So, for the parts procurement, I think that we have a good outlook."

The news comes just weeks after it was claimed that Sony are considering a "new semi-customised redesign" for their latest console.