Microsoft, in it's recent 'cloud' conference, hinted at new designs for the xbox. Whether the 360, or the next generation, we know not where this update will be applied. They may begin to follow sony's trend of redesigning it's consoles partway through its lifespan.
Still no news on an xbox handheld l, but that remains to be seen. What will the future. hold for the xbox? Start speculation here.
Source:
http://www.electronista.com/articles/10/03/06/ballmer.says.xbox.may.have.different.shapes/