Reports: PS4 games development in early stages
Reminder: These are still just rumors, which there have been plenty of lately in the gaming console world as the Wii ( released in 2006), PS3 (2006) and Xbox 360 (2005) are very likely entering the late stages of their life. Around 5-6 years into a console's lifespan is a good time to start announcing what's coming next. We know Nintendo has the WiiU up their sleeve, which they announced at the recent E3, and could possibly be released next year.
But Sony and Microsoft seem to be not rushing into the next generation. Sony's focus now is the upcoming release of its new handheld, the PS Vita. Microsoft is riding high on its Kinect add-on.
Other than Nintendo, I wouldn't expect Sony or Microsoft to release any new consoles next year; maybe late into 2013 at the earliest. Console gamers seem pretty content with what is out there right now. (I know PC gamers hate that idea!)