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Nintendo is launching a new Zelda in 2010 for Wii, why are they going to launch a new console the same year? (Unless they launch Zelda for both systems like Twilight Princess which is unlikely). I suppose that the Wii HD will arrive by the end of 2012.

Microsoft as you said is in a point where is starting to have some profits, so there is no needing of launching X720 in the near future, they will also wait until 2012.

Sony: I am not even sure if there will be a PS4. (Hope things change for Sony in the following years).