1. This generation is already one of the longest there has been starting in 2005 and the first entry of the next gen launching in 2012, the PS2 the most successful console ever was on the market for 6 years without a successor.
2. They had a lot of success from launching early this gen.
3. Your current product selling well is not a good reason to not launch a new one, the PS2 was out selling the PS3 and 360 for years after they launched do you think Sony should have waited until 2009 to launch the PS3? Or how about Apple should they not launch a new iPhone next year because iPhones are selling well? Waiting for your current system to die before launching your next is a bad idea, and it's not like they are going to drop the 360 like they did with the OG XBOX, a new console and your cheap old one wouldn't even really be competing.
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