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This is a leaked photo of the new and improved slim motherboard for the Xbox 360 console, which is reportedly the smallest Xbox released so far. The image comes via China, so it’s not known just how authentic the cries of “IT’S A NEW XBOOOOOX” are, but of note is the fact that the CPU and GPU looks to be combined in the same chip.

The pic above shows the board in question, with the chip part of a rumored redesign for the Xbox 360 console, testing of which has recently been completed in China. This isn’t simply a new board for the existing hardware, either; it’s reportedly a total redesign of the console. Think the PS3 Slim, only…for an Xbox 360.

Now, considering the source, there’s every reason to be skeptical of the image, and the info. Then again, with Natal due later this year, rebooting the 360 itself to go along with it would make a lot of sense, especially if a reduction in size could come with a reduction in cost.