I don't really believe Nintendo is making a next-gen console in the traditional sense. Their next "console" will just be a way to play their handheld games on the TV and use the same chip components (just maybe with more CPU/GPU cores so that the games can run at full 1080P suitable for big screen TV play).
So they're kinda out in a traditional sense.
I think MS is going to be kinda the wild card. If the XBox One only sells say 35 million ... does MS stay in the fight? Do they maybe shift to trying to push for a Netflix style game streaming service instead? With net neutrality laws shifting in the US that could pave the way for Google Fiber and other higher speed internet by 2020 or so.
Sony obviously, probably would like this cycle to last as long as possible.







