A 20nm Xbox One chip is allegedly underway -- translating to a slimmer, cheaper and cooler Xbox One soon.

EuroGamer reported that "a smaller, more cost-effective 20nm version of the main processor found in Xbox One" has been developed by an AMD chip designer.

"The news comes from the LinkedIn bio of AMD's senior manager of SOC (system on chip) physical design, as discovered by Mosen from the Beyond3D forums.

"The entry in question says he 'successfully planned and executed the first APU for Microsoft's Xbox One Game Console in 28nm technology and a cost-reduced derivative in 20nm technology,'" said EuroGamer.

So what does a 20nm chip have in store for the next generation Xbox One? Cheaper, slimmer and cooler, according to EuroGamer.

Citing Taiwan Semiconductor Manufacturing Company, the makers of PS4 and Xbox One processors, EuroGamer said "shrinking down the same chip provides 30 per cent higher speed or 25 per cent less power than the existing processor, at 1.9 times the density."

In addition, Eurogamer's Richard Leadbetter points out:

"The main processor inside Xbox One is one of its most expensive components, with the current 28nm version estimated to cost Microsoft something in the region of $50 per chip.

"Physically reducing the size by 1.9x means more processors can fit onto the silicon wafers used in production, lowering costs."

Microsoft has not hinted on a new Xbox One 'Slim' though, and has not confirmed anything regarding the matter. At this stage, all of these are merely speculations.

Interestingly, the LinkedIn profile of the AMD chip designer, Daniel McConnell, is now gone, said SlashGear. Initially, only the 20nm chip mention disappeared but it seems that McConnell has sensed the buzz.

The Xbox One has already gotten a price cut, according to Xbox Wire. The post said that the Xbox One without Kinect "will be available for a special, limited-time promotional offer of $349 in the U.S."

The Xbox Wire post adds:

"Special promotional pricing of $50 off the console of your choice applies to any Xbox One console, including special edition bundles, offering some of the year's most anticipated games - Assassin's Creed Unity, Call of Duty: Advanced Warfare and Sunset Overdrive. With Xbox One available at its best price yet, and savings up to $150 off select bundles, there's never been a better time to own an Xbox One."

It isn't clear if Microsoft is discounting the game console in time for the holidays or for other reasons -- such as clearing stocks perhaps? Then again, maybe both.

With that, do you think a cheaper, cooler and slimmer Xbox One is on the horizon?