Xbox 720 and PlayStation 4 Will Both Be Announced In Spring, Sparking a New Console Wars

Update: Sony is expected to unveil its next PlayStation console on Wednesday, Feb. 20, hoping to breath fresh life into a videogame business that has been racked by slowing sales and growing questions about the future of dedicated home consoles.

The new console — what many have already dubbed the PlayStation 4 — is not expected to go on sale until sometime this fall. It would be the first console in seven years that playstation has released. For LIVE updates, follow here.

Looks like the Xbox 720 and PlayStation 4 just got a little closer to an official announcement.

According to the February 2013 issue of Game Informer (via Videogamer), both Microsoft and Sony are readying "special Apple-style press conferences" to officially unveil their next-generation consoles. These conferences, according to the report, will be near the Game Developers Conference, which takes place in San Francisco from March 25 to 29.

Although the report contends that the year’s biggest gaming event is still the Electronic Entertainment Expo, confirmed for later this June in Los Angeles, is still states, “both companies want to give their systems their own limelight.” For that reason, the conferences will be separate from the San Diego event, which will instead focus on next-gen software “in preparation for the systems' release at the end of the year.”

Interestingly, the report also asserts that Sony will likely make its release announcement prior to Microsoft, claiming that the Japanese company “is determined not to come out last this time like the PlayStation 3 did this generation.” Fans will remember that the PlayStation 2 dominated the console market but, because Sony delayed the release to its sequel, they are behind Microsoft this current generation in terms of console sales.

This also seems to contradict an earlier statement by Sony exec Hiroshi Sakatomi, who told Spanish website Emol (translated via Bing) that fans seeking the announcement “should at least wait until May.” However, PlayStation Europe head Jim Ryan has stated in the past that, “we would consider it undesirable to be significantly later than the competition,” so it does make sense that Sony would wish to launch before their competitor.

Microsoft, on the other hand, has reportedly met its production deadlines for a 2013 release, so their chances for an announcement before Sony are high as well. Either way, according to analysts, a 2013 release for both consoles is almost a guarantee.