Microsoft will reportedly announce its lower-powered next-gen console in August after a quiet June. According to a report by Eurogamer, Microsoft had originally planned to announce the console, codenamed Lockhart, as part of its Xbox E3 press conference during June, which was cancelled due to the COVID-19 pandemic.
Microsoft announced that it would be doing monthly events leading up to the release of the console, named Xbox 20/20, starting in May. It is unknown when exactly the decision was made to move the reveal from June to August, but June will end without an Xbox 20/20 event. June instead had a series of Xbox Wire posts detailing how some next-gen titles would be taking advantage of the Xbox Series X and the announcement that Mixer is shutting down in July.
The rumored Xbox Series S reportedly has the same CPU as the high-end Xbox Series X, with a different GPU and less usable RAM. The console is also rumored to not have a disc drive and be cheaper than the Series X.
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Source: Game Spot Mashup