According to a report from MCV, both Microsoft and Sony are preparing to unveil their next-generation game consoles at this year's Electronic Entertainment Expo (a.k.a. "E3"). With Nintendo also scheduled to reveal the final details regarding its next game console, dubbed the "Wii U," E3 2012 is shaping up to be the "biggest ever" it seems. If these rumors and dates hold to be true, it will be the first time in the conference's seventeen-year history that "three fresh, rival console formats will be so directly comparable."

The Xbox 360 was originally released in December of 2005, while the Sony PlayStation 3 and Nintendo Wii were both unveiled in 2006. Microsoft and Sony have long been rumored to be working on next-generation game consoles, but exactly when these consoles will be released to the world is still unknown. The latest rumor claims that the next Xbox could be released sometime in Winter of 2013.

All three consoles have seen both major and minor updates to keep the design and performance up to date.