Expect no new consoles from Microsoft and Sony until 2014
Apparently Microsoft and Sony and communicating with each other behind the scenes in order to co-ordinate an extension to the life of the current generation of console hardware.
Both analysts and industry insiders have all pointed to Sony and Microsoft not planning new hardware until 2013 at the very earliest, a full eight years after Microsoft kicked off this generation with the Xbox 360.
One first-party insider told Kotaku: "Both MS and Sony are telegraphing to each other that they're delaying, to milk the current [generation] and fill in previous craters better."
Perennial analytical mouthpiece Michael Pachter speculates: "I don't think either Sony or Microsoft are interested in a new console till they can advance the technology, and they certainly don't want to launch at a 600 USD price point. It may take till 2014 to get 2TB hard drives, uber-fast CPUs and state-of-the art graphics and sell at 400 USD."