Mary Jo Foley, who is usually pretty good with rumors about Microsoft, has some more information on the next version of Windows, currently known as Windows 9. We should expect Windows 9 to be released in April 2015, which would see the next update to Windows 8.1, 'Update 2', should be released this month, with Update 3 only coming with a few improvements. We could see Update 3 scrapped if Microsoft diverts its energy toward Windows 9.
When it comes to Windows 9, there's an interesting spin on Microsoft's upcoming OS: it could be a free upgrade to Windows XP, Vista and 7 users in order to get the adoption of Windows 9 much, much higher than Windows 8 and Windows 8.1. This wouldn't just be a great thing for Microsoft, but for the entire industry as it will shift many more copies of its OS, which would convince people to upgrade or possibly buy a new PC.