I think don't think the PS4 has to do anything price, or design wise to the hardware next year to continue to sell well. Making sure important games are not delayed, should be their biggest priority.
Xbox One could benefit from a price drop to help close the gap, I see a $30.00 price drop to $369.99. Also, if they release a new slim version it will appeal to all the people that do not like the size of the current one, while also causing some current owners to want to upgrade again making some a multi system owners. I personally would be tempted with a smaller system to go in my bedroom, and keep the gen1 version in the living room.
All 3 can drop the price of their consoles due to manufacturing cost involved should be going down every year. It really is up to the companies.
Sony - No (selling well now, I only see them dropping the price if they fall to the XboxOne 3 months in a row in sales next year - Not likely)
MS - Yes (Any price drop or hardware revision will help, but hopefully the new Studios they have opened show off some spectacular software next year to make it a compelling system)
Nintendo - Yes (at this point anything can help Nintendo, I will buy one when Zelda drops).
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