Sources familiar with Microsoft told The Verge that the Xbox One update is mainly focused on correcting many problems with the Live service, but also in the overall system.
This version of the console could arrive in March.
The site also writes that a white version of the Xbox One will only be reserved for members of staff who worked on the design.
This white model could hit store shelves in October.
Another Xbox One rumor suggests that several new markets in Asia, Europe, the Middle East, and South America may welcome the device, with a version of the console coming without a Blu-ray drive.
Microsoft has declined to comment on the information.