Xbox 720 and PS4 not out until 2014

The next consoles from Sony and Microsoft will not launch until three years' time, predicts GameStop. Senior executives from the US retail giant made the claim during a series of investor meetings, according to financial research firm Baird. A statement read: "Management does not expect new hardware consoles from Microsoft and Sony until 2014; however, a successful launch of Nintendo's Wii U in 2012 could add pressure to accelerate a hardware refresh. "GameStop is also upbeat on the coming launch of Sony's PlayStation Vita handheld gaming device, which has a $249 price-point within the reach of many gamers. "As for the motion controller launched a year ago, management indicated more software is needed to maintain sales momentum."

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