Sony’s Fergal Gara, has hinted that the PS4′s life-cycle might be a lot shorter than the PS3′s life cycle. This is due to the consumer’s appetite for new technology.  

“I think there’s reasons to believe that the next cycle might be shorter in markets such as the UK,” he said.

“It’s probably a sign of the times and how much has changed in seven years, but I think the willingness and the appetite to pick up new technology fast has probably changed quite a bit.”

Gara did say that it is far too early to tell what the future holds, but Sony feels the PS4 is going to be big.

I can see Nintendo bringing a new system to the market in 2017, but I don’t know about Microsoft and Sony. We’ll just have to wait and see. 

Source:http://kotaku.com/the-12-best-games-on-the-3ds-5878903

yeah, ea also said it few days ago. they expect next gen in 2018/19.

So... After the longest generation ever, they expect this generation to break the trend?

I was just reading a survey suggests that people get bored of their phone after 4 months of usage. People like to spend money I guess. The video game consoles sure have a long lifecycle when compared to other electronics devices. shorter lifecycle means healthier industry, it is not without cons though, increasing developing costs to name one.

Sounds good to me.

If you would have bought a Wii U it would be 6 years

This generation will last just as long. I actually wouldn't be surprised if it lasts longer considering the state of the world's economy.

Five years was standard until last gen, so it's no surprising to me.

I think it will be shorter because nintendo are already going to launch their 'next gen' system within 5 years and MS will eventually accept that they cannot compete with weaker graphics so they will want this gen to end as soon as possible as well.

Video Game market has never been this big. It brings more money than cinema.

Luxury knows no crisis.