Let's face it: the current Xbox 360 and PlayStation 3 are old. The Xbox 360 came out all the way back in 2005, while the PS3 came out a year later. In terms of hardware, that is pretty ancient, and even though both have had newer, slimmer versions released, the internals have remained mostly the same. For some time there has been speculation concerning when exactly we would see the next Xbox (the rumored Xbox 720) and the PlayStation 4. Both Sony and Microsoft have said the consoles have ten year lifespans, but Microsoft did retire the first Xbox pretty quick. However, according to a new report by MCV, both Sony and Microsoft will announce the successors to the current consoles at E3 2012. The report says it is 100% accurate both the next Xbox and PlayStation 4 will be announced, but that does not necessarily mean a full reveal will be shown.
People have expected Microsoft to announce the next Xbox at E3, and if Microsoft does, then Sony will announce the PlayStation 4 as well. If Sony does, that will be a smack in the face of the ten year lifespan it has always stated for the PS3. Nintendo is also expected to announce the pricing and availability of the Wii U, which could make this year's E3 the largest ever. Whatever the case may be, we will have to wait until this June to be certain.