Square Enix has officially revealed another game in the Final Fantasy XIII saga, entitled Lightning Returns: Final Fantasy XIII. This third tale in the story of Final Fantasy XIII's cover character will once again appear on both PS3 and Xbox 360 and is currently expected to debut in 2013.
Lightning Returns is said to be more of an action RPG than either of the two previous FFXIII games, and the title character will be the one and only party member. Time travel will be a key to the gameplay once again, but used in a different way. Similar to what players did in The Legend of Zelda: Majora's Mask, there is a doomsday clock ticking, and players will take Lightning through a certain time period multiple times in order to do what needs to be done. There are 13 days from the beginning of the game to the end, but more time can be gained by defeating enemies.
Lightning will have several different costumes available right away, and smart money would bet on more outfits becoming available by DLC later on, because that's how the game industry rolls.
Square Enix said that this will be the final chapter in Lightning's story, adding "Seriously" and "Really, we mean that" and eventually asking the journalists present: "Why isn't anyone writing that down"?
[Source]