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NintendoPie said:
I suspect that either...
1. Sony/MS started developing their new consoles later than Nintendo.
Or...
2. They saw that their sales on the last generation consoles were still doing good and they didn't want to mess with that yet.

Rumour is that they rebid halfway through the process. PS4 because Intel's Larrabee didn't deliver and 720 because IBM didn't deliver. Now it's all-AMD in both consoles.