By Keerthi Chandrashekar (staff@latinospost.com) | First Posted: Nov 26, 2012 02:10 PM EST

Halo 4 released recently, but people are already wondering what will be in store for the next installment. 343 Industries franchise development director Frank O'Connor has confirmed that Halo 5 is already being developed for the next-gen Microsoft console, dubbed 'Durango' or the 'Xbox 720.'

The Halo series was initially the creation of Bungie and then bought out by Microsoft and given to 343 Industries. Many gamers and critics expected 343 to fall short of Bungie's epic offerings, but the recently-released Halo 4 has proven that 343 is up to the task. Halo 4 is planned as part of a trilogy, and gamers can look forward to Halo 5 and 6 - on the next-gen Xbox.

In an interview with the Seattle Times, Frank O'Connor responded to a question about the next Halo with the following answer.

Q: "You're presumably working on the next version -- "Halo 5" or whatever it's going to be called will be the anchor tenant on the next version of the Xbox, right?" 

A: "We've done as much prototyping and storytelling and the future arc of the universe as we have on technology. So we're definitely working on the future but in some ways it's technologically agnostic at this point."

"We definitely have a lot of smart people inside the studio and outside the studio thinking about future technology and future development, for sure," O'Connor added. 

Halo 5 is bound to be one of the biggest next-gen titles, given that it will probably help launch the Xbox 720. 

Magazine Xbox World recently revealed all they know about the next-gen Microsoft console, which will come in two versions. Read here to see the details from the Xbox World article.