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Microsoft - current console generation will probably be longer than last generation
“Just coming up with something that’s faster and prettier isn’t going to be sufficient. The life cycle for this generation of consoles — and I’m not just talking about Xbox, I’d include Wii and PS3 as well — is probably going to be a little longer than previous generations.” - Xbox chief Robbie Bach
Well…we know that Microsoft isn’t planning to put out a new system all that soon, and Sony keeps saying that the PS3 will last them 7+ years. The only one that hasn’t been vocal about their next-gen plans is Nintendo…how surprising!