Sony and Microsoft's next-generation consoles are set to be debuted before the summer and will launch to consumers in October and November respectively, according to a new report.

Baird Equity Research says that the new console hardware will be sold for $350 - $400 in Autumn, right in-time for the Christmas shopping season that is sure to bring a slew of sales to each company. The research firm sources having spent CES "with a number of companies involved in video game development and distribution" for the basis of its report.

Furthermore, the report says that both next-generation consoles will feature higher-end PC components, enhanced voice control, motion control, and better multi-media capabilities.

Game Informer reported in its February issue that Sony and Microsoft are taking a page out of Apple's gaudy press conference playbook and will have "Apple-style press conferences near the Game Developers Conference in late March". The Game Developers Conference is held in San Francisco on 25-29 March.

While E3 may not be where both consoles are officially announced, Sony and Microsoft will use the event to hype the consoles and their respective games. Of course, rumours are rumours.

The report goes on to say there "may be early production issues with Sony's PS4.

Without a doubt, both companies won't miss out on the opportunity to dominate Christmas 2013, whenever the consoles are launched.