Just read this article a few days ago and thought it was interesting. Article is from MTV Multiplayer.
Sony Already Working On PlayStation 4 » MTV Multiplayer
Sony Already Working On PlayStation 4
Posted 5/26/11 3:18 pm ET by Matt Clark in News, PS3
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Even though Sony has repeatedly stated that the PlayStation 3 has a ten year life-cycle, it looks as though development on the brand's next console is already underway. Speaking to investors yesterday, the company's executive vice president informed those on the conference call that they are already working on a "future platform." I don't think we're going to receive a surprise E3 announcement, but it looks like the PlayStation 4 – or whatever it's called – is already in development.
As reported by Eurogamer, chief financial officer and executive vice president Masaru Kato informed investors that the company was already working on the next hardware iteration in the PlayStation brand. Kato was forced to respond to questions asking why the company had increased spending within research and development. While maintaining that the PlayStation 3 still has plenty of life left, he made it clear that company was allocating funds to pay for development costs.
"For the home equipment the PlayStation 3 still has a product life," Kato said, "but this is a platform business, so for the future platform - when we'll be introducing what product I cannot discuss that - but our development work is already under way, so the costs are incurred there."
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Of course, there's no way of knowing how far into development Sony is with the next PlayStation. Considering these funds are just now being diverted to research and development, I'm assuming that work on the new console has only just begun. The PlayStation turns five-years old this November, so if the ten year life-cycle is accurate, we still have a decent wait ahead of us.
That said, Nintendo is set to unveil their next piece of hardware – tentatively called Project Café – at E3 this year. You can be certain that both Sony and Microsoft are nervous about what kind of competing features the Nintendo system will reveal. It's been rumored that the machine packs more processing power than the current generation consoles.
I am not sure about it but they will later and they have to because to compete in the market.
Seems interesting but the PS3 still has way more potential than most people understand. This system had to have special import rules and taxes placed on it because it is considered a supercomputer due to its very different Cell processor. Sony is more devoted right now on the handheld market with the launch of the Vita and using the power of the PS3 and PSV combined to outdo the Wii U and Xbox 360 in terms of multi-dimensional gaming. I may sound like a fanboy to some of you, but note that I do not even own a PS3. This opinion is from pure notice on current trends in the market and I feel that the PS3 is finally about to come into its own now at the middle point of its lifespan.
I still think i would go for the new xbox, i just prefer the exclusive titles that xbox has and xbox live
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I can't see them putting out a PS4 as of yet, especially since the crash from the hackers. At the same time Sony needs to recoup some of that financial loss...