By James Paladino/J.paladino@latinospost.com (staff@latinospost.com) | First Posted: Jan 14, 2013 05:53 PM EST

The Xbox 720 will allow users to control their thermostats and security systems on their consoles and ship with a Kinect 2.0 capable of projecting images in real time; meanwhile, the PS4's network will hook players into the upcoming Sony-branded online cable service. At least, that's what the rumors suggest.

Let's be clear: no official specs or features have been announced for either Microsoft or Sony's next-generation console. But, as we approach E3 2013, recent company acquisitions on both sides and proof-of-concept videos continue to scatter clues about the companies' secret projects across the web.

Predictions

On top of the rampant speculation, Robert W. Baird analyst Colin Sebastian predicts that both systems will be announced at standalone events prior to E3, potentially at the end of March, and that the price range for either system would likely fall between $350 and $400. More specifically, Sebastian pinpoints the announcement window around March 25-29, when the annual Game Developers Conference takes place, according to a Game Informer report (via GameSpot). The analyst affirms that Sony may hit several production complications as the year unfolds, although it's unlikely that the Japanese company will allow Microsoft to have another year-long head start in the console wars, as they did with the launch of the PS3. While a March announcement is on the table, Xbox Live's Director of Programming Larry Hyrb published a countdown on his blog on January 2 which runs out the day of Microsoft's E3 2013 press conference. "And it's on...," Hyrb adds to the post. Sebastian's information originates from "conversations with a range of game developers and distributors" during CES 2013, notes GameSpot.

New Acquisitions, Tech, and Services

Near the end of 2012, Microsoft was reportedly in final talks to acquire id8 Group R2 Studios, a home automation company that provides connectivity to home appliances such as thermostats using Android devices from anywhere in the world. The Xbox 360 was advertised as a media hub for the living room, so it's not that far of a stretch to consider that the company would naturally expand beyond a single room in users' households.

Microsoft is working on Kinect 2.0. Whatever course it may take in development between now and its release, its existence has been verified by the Redmond-based company in online listings for job positions and, most recently, in a CES 2013 proof-of-concept video. While most features are still under wraps, Microsoft showed off IllumiRoom, which automatically detects the dimensions of a room and creates projections on the fly, expanding players' field of view beyond their TV's screen.

Sony, in an effort to expand its reputation as a media hub, is engaging in "ongoing talks [that are] far beyond exploratory" about a virtual cable service, reports Variety.

Lastly, a former Ubisoft employee let loose that the Xbox 720 may sport an 8800 series GPU, 8GB RAM, an eight-core CPU, and a 640GB hard drive.

As always, digest these rumors with a grain of salt as we await official confirmation from Microsoft and Sony.