The industry is moving forward fast and the console war rages on, as usual. This year's E3 has brought the Nintendo Wii U into the spotlight, with promises of Nintendo grabbing hold of the hardcore gaming audience. The new console does appear to have potential and we are eager to see it in action. However, the announcement also seems to have kicked rumors of other new consoles. Recent rumors indicated that a new Xbox console could be unveiled during the E3 2012. In addition, today, we've learned that there's a possibility that Sony could announce the next PlayStation console during that same year.

"I think it's unlikely [that PS4 will be announced in 2012]. Wii U isn't going to pressure anyone, it's Nintendo's catch up to this cycle, and the other guys are going to see if the tablet integration is worth copying first. That means nobody is going to finalize specs till they see if Wii U succeeds. I am sticking to 2014, so an 'unveil' in 2013," commented Wedbush Securitites analyst Michael Pachter.

Still, I'm not entirely sure if new consoles are necessary at this point. Why launch them? I'll tell you why. Because Sony and MS are probably concerned that Nindendo would dominate the gaming scene and take over sales completely. Not that they need to, mind you. The Wii was one of the best-selling consoles in history and has always been on top of hardware sales charts.