The PlayStation 4 has just been revealed by Sony and Microsoft is expected to present the Xbox 720 later this year, either in April or at E3 2013 in June.
According to analyst Michael Pachter, via Geoff Keighley, the Xbox 720 will be more popular than the PS4, as it has several killer apps like Skype but also entertainment features, like acting as a set-top box.
Pachter did emphasize that Sony's PS4 would thrive with Gaikai cloud technology but it's still going to play catch-up to Microsoft.
Nintendo, on the other hand, will thrive thanks to its games and franchises but hardware sales, for the 3DS and Wii U, won't impress.
As of yet, Microsoft is still keeping a tight lid on the Xbox 720 and it's still unclear just what it's going to feature.