So here’s a surprise; console development can take a pretty long time to finally come to fruition in the form of that machine you can buy from retailers. This is further evidenced by the apparent fact that the next-generation PlayStation console has been in the creation process since August 2010.
This information all stems from the LinkedIn profile of Attila Vass, who was formerly the director of research and development at Sony Computer Entertainment America until April 2012. Under his profile, he claims to have been working on the “Next-Generation PlayStation” in August 2010. This is listed separately from his work on the PlayStation Vita, which further points towards the notion of the PS4 being in development behind the ironclad gates at Sony’s headquarters.
Nothing has been made official yet, but I think it’s safe to assume that both Sony and Microsoft are hard at work and well on their way on their next forays into the console space, especially with Nintendo’s Wii U on the near horizon.