For the last few decades, there has been an unspoken cycle that console manufactured seemed to adhere to when it comes to releasing new hardware. Traditionally, hardware companies like Nintendo have released new-generation hardware every five years or so. However, it seems that this will be one of the longest generations of console hardware. For example, we're five years into the Xbox 360's lifespan, and Microsoft hasn't yet to even begin hinting about its next console.
Will Wright, creator of The Sims, believes that's because the whole cycle has been "shattered."