Sony is officially quashing rumors that the next Playstation home console will be unveiled at this year's E3 event. E3, the Electronic Entertainment Expo, is where the majority of major gaming announcements are made. There has been growing speculation that Microsoft will use the show to debut the Xbox 720, or whatever the next Xbox happens to be called.
When it comes to the PS4, there has been significantly less traction to those rumors, though there have been some reports that Sony would show the console to steal some of Microsoft's thunder.
Kaz Hirai, the man in charge of Sony's Playstation division, was quoted by the Wall Street Journal as saying, "We are not making any [PS4] announcements at E3. I’ve always said a 10-year life cycle for PS3, and there is no reason to go away from that."
In fact, the PS3 has really just started to mature and is hitting its stride later than either of its competitors. There's no doubt it will last longer than the Xbox 360 or Wii.
Meanwhile, the Xbox 360 hardware is fragmented and the Wii is so outdated it doesn't even support HD video output. Both of those are in need of a refresh.
E3 is scheduled to take place in June.