The Xbox 360's successor will likely debut at E3 2012, with Timesplitters 4 among the titles in development for the new machine, according to a new report.

A "high-ranking" source within developer Crytek let the news slip to VideoGamer. Although the insider didn't confirm system specs, they revealed that the Crysis studio is using DirectX 11 in development.

The source expects Microsoft to unveil and subsequently launch its new machine ahead of Sony, though the studio is also investing resources in PlayStation 4 development.

Crytek is hoping that Timesplitters 4 will be seen as an early visual benchmark for the platform.

First announced by developer Free Radical back in 2007, the FPS sequel was thought to be dead and buried when the studio went into administration in 2009. However, Crytek, who bought up what was left of the Nottingham-based outfit, has seemingly resuscitated the game.

Built using CryEngine 3, it'll apparently focus on branching paths, exploration and sandbox gameplay.

Both Microsoft and Crytek have declined to comment on the story.