NowGamer

Sony and Microsoft will likely reveal their next generation consoles next year at GDC and E3 respectively, according to Wedbush Securities' Michael Pachter.

Now that Epic Games is showing off Unreal Engine 4, all that's needed are games powered by the tech - and the hardware to run them.

"The UE4 reveal likely means that we'll hear about next generation
consoles sooner, but not as soon as next month," Pachter told us with regard to E3.

"Sony will announce at GDC or later, Microsoft at E3 next year," he added.

The next Xbox is rumoured to be codenamed 'Project Durango' while the PS4 is said to be known internally as 'Orbis'.

Current speculation has both projects pegged for unveiling next year, with an expected launch at the end of 2013.

http://www.nowgamer.com/news/1386527/unreal_engine_4_details_mean_ps4_xbox_720_reveals_in_2013_pachter.html

Gee whiz Pachter, they don't pay the man enough.

I'd like a Gamescom PS4 reveal. Show your strongest market some love.

came in hoping for a "real" source.

d_i_s_a_p_p_o_i_n_t_e_d

As long as I get my Next-Box next year I'm happy.

For once, I have to agree with Pachter.

You've gotta be kidding! Their strongest market is also the one that gets the worst treatment.

PS4 Reveal Next January-February, Next box at E3 2013. that sounds about right to me, though i was hoping to see them at this e3. Still got Wii U at least.

Guess I win the prediction then. PS4/NeXtBox reveal at E3 confirmed.

Sounds like 2014 releases to me, don't chill the champagne yet Superchunk. Patched is only talking about announcements and the trend is to release a year later or more.

Microsoft would never announce their next console before they release Halo 4 this year. Why would they risk losing sales on their biggest game?