The Xbox 360 launched in 2005. The Wii and the PS3 hit in 2006. It's the middle of 2010. Shouldn't we be getting ready for new consoles?
Sony has stated repeatedly that the PS3 will have a ten year lifespan. We don't doubt that at all. The PS2 has gotten lengthy and steady support from Sony, and no doubt that the PS3 will get the same. That doesn't mean that Sony can't launch another console while it is supporting the PS3 in its later years.
So which of these companies will release new hardware first? According to Sony exec Shuhei Yoshida, "Looking from the outside, it was Microsoft that released the first of this generation of consoles. Naturally, in my opinion, Microsoft will make the first move... Or, because Nintendo's approach was not to upgrade much on its basic hardware — Wii doesn't even support HD resolution — so they might be the first to move."
With the impending release of the Kinect motion controls, Microsoft is saying the Xbox 360 will have a ten year life span.