When will the next consoles be released?

Next year for Microsoft. Expect an E3 announcment and then a release later in the year. 2013 for the new Playstation.

This. Once it's announced, it will be a very short time till release. Microsoft will be getting the architecture right this time and not repeating the huge losses they had to take with the red ring extended warranty. Or they may not, how bad did it hurt them in the end really?
 
Or they may not, how bad did it hurt them in the end really?

I think i read somewhere Microsoft themselves said just over a billion dollars. But that is chump change compared to how much they lost on the original xbox and the early years of the 360.

Even all of that is still nothing to Microsoft.

IIRC the gaming division is just about to break even since the inception of the Xbox programme. Sony's gaming division on the other hand very nearly lost everything on the PS3 launch that they earned on the PS1 and PS2.

Nintendo are the only ones that have been ok this generation. But they are expected to post a billion dollar half year loss in the next few days because of declining Wii and DS sales, limp 3DS sales, and not much software being sold as all the big 3DS games are not coming out until this quarter. About half of that loss is down to the strong Yen as well.
 
I expect an announcement for the next Xbox at next years E3 with a release date in time for christmas 2013(say oct or nov 2013)
 
Does anyone think MS will give us a reveal at E3 2012 in order to bosh Nintendo's Wii-U even though it could be 18 months before its launched? Or will they just say nothing til E3 2013?
 
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