Microsoft and Sony showing no new Consoles at E3. Stupid or Smart Decision?

[o_O.Q]

VGKing said:

smroadkill15 said:
If they don't plan on releasing a brand new console till Fall 2013 then obviously a smart move. The only folks that would think it's dumb are ones tired of this gen, but luckily their opinions doesn't reflect what Sony and MS do.

We area already head over heals in yearly releases.
At least with a new generation consoles, there is much more room for improvement at least in the graphics department.

How long do you think people will keep buying COD/Fifa/Madden/Just Dance/....etc. The new consoles need to release before these franchises get milked dry.

yearly releases of games like madden and fifa were around before this gen

secondly why do you believe new consoles have to be shown for new franchises to be done?