Console fans are eagerly awaiting the launch of Microsoft's next-gen system known as the Xbox 720 or "Next."
Although Microsoft has yet to confirm a release a date, a recent report claims the console will debut at E3 2013 and hit store shelves a few months later or at the beginning of 2014.
However, RW Baird analyst Colin Sebastian told IndustryGamers that Sony will likely attempt to steal Microsoft's thunder by launching its next-gen system first - which the Japanese-based corporation failed to do years before with its Playstation 3.
"I doubt they will be ready for launch in 2013. Between Sony and Microsoft, we expect Sony to be first to market perhaps as early as 2013, but more likely in 2014," Sebastian explained.
"There is still a lot of investment for both companies to recoup in the current generation."
Despite the lack of a clear launch date for either system, the industry is quickly gearing up for both the Playstation 4 and Xbox 720.
Indeed, Lionhead is apparently already working on a project known as "Fable Next," which is slated to run on Microsoft's new console, while EA is reportedly in possession of next-gen console hardware to enable the creation of future titles.
Similarly, a number of studios are apparently coding Playstation 4 games in preparation for Sony's upcoming Playstation 4 console.