In a recent interview with IGN at Gamescom 2023, Phil Spencer, the head of gaming at Microsoft, confirmed that there are no plans for a mid-gen refresh of the Xbox Series X|S consoles. According to Spencer, the company is still focused on the current hardware and sees no reason for an upgrade at this time.
During the interview, Spencer mentioned that the team is instead focused on increasing the storage capacity for the Xbox Series S. He emphasized the importance of hardware having a demonstrably different reason to exist than its predecessor, noting that planning for a console starts years before its launch, locking in a specific hardware spec for the lifespan of that generation.
Spencer expressed that mid-gen refreshes can cause issues for developers and the platforms they target, making the console experience more similar to a PC. He referred to the price-performance balance of consoles, stating that early in the generation, consoles offer great value, but as time goes on, PC capabilities can outpace them.
Regarding game preservation, Spencer acknowledged the importance of finding solutions but mentioned that there are no current plans in place. Microsoft recently announced the closure of the digital Xbox 360 store, which could potentially result in the loss of games that haven't found a new home on current-gen consoles or PC.
As for gamers looking for new titles to play, there is a list of the best Xbox Series X games available now. Additionally, for those needing more storage options, a guide to the best Xbox Series X hard drives and SSDs is also available.
– IGN interview at Gamescom 2023
– Eurogamer interview