Novede.com analyses the current console rumours:
The rumour mill is in top form right now with uncertainty about the next generation of consoles at a meteoric high. MCV says we can expect "both the Xbox 360 successor and a follow up to the PS3" to be shown this year. MCV claims third-party sources have signalled partners that Microsoft is going to announce their new system at E3.
Some observers have been hinting at the possibility of an announcement at CES given the recent Wii U announcement, though it now looks highly unlikely.
Numerous outlets and blogs have been reporting either way, but the Wall Street Journal has some concrete information on the Sony side.
Kaz Hirai president of Sony's Consumer Products And Services Group poured cold water on the rumours saying: "Andy is absolutely right in that we are not making any announcements at E3. I've always said [there will be] a ten-year life-cycle for PS3, and there is no reason to go away from that."