Sony: Raised R&D Costs Related to PS4 Launch

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Nintendo won't want their new console to cost too much more than the PS3 or 360, the 3DS has already seen price cuts a month or so after release because it didn't sell in big enough numbers at its launch price.

I can't see Nintendo pushing games technology too hard because that makes it difficult for 3rd party developers to work on it and Nintendo NEED the 3rd party support this time. I think we'll see a Wii2 that is 100% backwards compatible with the Wii and just ahead of PS3 and 360 in overall specs. That will allow them to keep the price competitive, draw on the huge catalogue of Wii games as well as bring in the big 3rd party games like CoD, etc.

I don't think we'll see a revolutionary console in terms of graphics; I imagine it will offer all games at 1080p. Will they use blu-ray as a readily available large storage option? If so they can push it as an entertainment device too. Hard drive? maybe, some rumours are suggesting SSD though.

Price? About the same as PS3/360
Release? I wouldn't be surprised to see it in the shops for Christmas (in Japan).

I really can't imagine seeing a PS4 or a new Xbox any time before 2014, there's just no need and with the number of developers that folded in this generation I can't believe any publisher is keen to spend even more money developing their games for two new consoles. This is why I think the Wii2 will be a console to match PS3/360 as it makes it easier for the 3rd party guys to jump on board.