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A Microsoft exec has seemingly confirmed the firm will not be releasing a new Xbox console in 2012.

Speaking to Lepoint.fr, Cedrick Delmas, marketing director of Microsoft France, was presented with recent rumors that have suggested the platform holder is on the cusp of revealing its next-generation of hardware.

Delmas responded by stating that he's "not convinced that things are happening this year" and said he feels that the "cycle of the Xbox 360 is by no means complete," citing the lack of an Xbox 360 price cut as evidence that Microsoft isn't ready to move on yet.

"After that, it will happen at E3, it is still premature. What is certain is that there will be nothing new in 2012," he added.

Delmas went on to discuss Microsoft's position in relation to Nintendo, which is set to re-reveal the Wii U at E3 this year and go on to be on shelves and in homes by December.

"We are not here to deal with Nintendo and they are not there to fight against other manufacturers. Nintendo has placed itself in a different cycle, they advance at their own pace, successfully as we have seen with the Wii, and now it is their turn to present their innovation," said Delmas.

Despite the fact that the marketing man has said Microsoft's next console won't be out this year it is believed the hardware will make an appearance at this year's E3.

Early reports have suggested the machine will support Blu-ray and use a Radeon 6000 card that boasts 'six times' the power of the Xbox 360.