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Rumours that Microsoft is soon to release a new version of Xbox 360 are gathering pace, with reports calling the machine Xbox 360 Elite.

Game Informer and Engadget are carrying information on what is said will be a new 360 package released in April and sit alongside the existing Core and Premium console editions. Decked out in black, the Elite edition features a 120Gb HDD and support HDMI, but not an internal HD-DVD drive.

Engadget says the Elite edition will be released in limited supply and retail in the US for $479.

The site adds that, down the line, once the Elite is sold out Xbox 360s in the Premium pack will come with the bigger hard drive and HDMI support. It's estimated that the revised Premium pack will be available summer/autumn and initially will retail at the $479 price point.

We're awaiting a response from Microsoft to the reports. UPDATE: Microsoft says, "We don't comment on rumour and speculation".