Wii US, Xbox 720 & Playstation 4

Wii US, Xbox 720 & Playstation 4
Coming No Time Soon

A recent Forbes article hints it may be eight years total before Microsoft, Sony, and Nintendo release new gaming consoles. "Those engines have a lot of steam left in them," Brian Farrel, THQ CEO, said of current consoles. Jack Tretton, Sony Computer Entertainment of America head, said Sony has a distinct advantage with the PS3 in that "we don't have to go in a specific direction" as the "fact that we have a high-end machine keeps up from doing bite-sized casual entertainment."
Nintendo President Satoru Iwata, meanwhile, did say Nintendo is already working on Wii successor, but expectedly, Nintendo isn't rushing anything to market. "We are always preparing for the next hardware," Iwata stated. "We are under development... but the hardware is a kind of box that consumers reluctantly buy in order to play our games."
source: Computer Power User October 2008.