They're on a ten year life-cycle, which will likely be extended by the current economic mess.
And even then, they'll not be gaming consoles. But media centers that can play games. The focus will not be on games, but selling digital media rentals; where is where the real money is.
--------------------------------------------------------------------------- In the end they will lay their freedom at our feet and say to us, 'Make us your slaves, but feed us.'
Im with KOG on this one, i don't fancy forking out another few hundred pounds for another console and games and peripherals etc... Im happy to stick with the xbox for the time being.
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There are almost certainly going to be new consoles, but it's doubtful that they'll be released any time soon. Also, I really hope Sony doesn't go with "The PS4". It just sounds silly for some reason.