By Keerthi Chandrashekar ( | First Posted: Oct 20, 2012 02:51 PM EDT

A mockup of what the Xbox 720 logo could look like.

There's not much solid news on the next-gen Xbox or PlayStation other than the fact that both Microsoft and Sony are hard at work on developing the next step in gaming. With Nintendo's Wii U coming out later this year, you can bet that the Xbox 720 and PlayStation 4 should be hitting shelves over the next couple years. In fact, the way it's looking, the Xbox 720 should be out in 2013, with the PlayStation 4 following in 2014 or 2015. 

"Next year is probably the right time for the new consoles," said Matt Edmunds, COO of Stainless Games to Trusted Reviews in an exclusive interview. 

Trusted Reviews states that the Xbox 720 should be out in the autumn of 2013, after a 2013 E3 unveiling. 

Microsoft has been ramping up security around its headquarters in Redmond, indicating that the next-gen Xbox has reached a critical stage in its development. 

Keep in mind, however, that Microsoft and Sony are both confident in their current-gen consoles. Both companies believe that there is still plenty of untapped potential, and that support for the Xbox 360 and PlayStation 3 should continue into the next-gen consoles' lifetimes. 

"I think that looking forward into the future I can see years from now, even after next-gen platforms are out, that you'll have lower priced versions of the existing consoles happily living side by side and serving really valuable functions," said Halo 4 franchise development director Frank O'Connor.

"We're going to continue supporting the PS3 for the next few years. Absolutely. And we're going to continue supporting it not only that long, but as long as there is a development spigot that's running hot," said PlayStation VP of hardware marketing John Koller. 

Sony has indicated that the PlayStation 4 might not be out until 2014, or even later.

So there you have have it. Microsoft and Sony are hard at work on the next generation of home consoles, but don't expect anything anytime sooner than the fall of 2013.  

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