Xbox 720, PlayStation 4 Projects Under Development: Gearbox

Xbox 360 Credit:Reuters

Rumors regarding the impending arrival of two highly- anticipated next-gen gaming consoles - Xbox 720 and PlayStation 4 - have created quite a stir on the web. Latest reports suggest that Gearbox CEO Randy Pitchford has confirmed that their studio has next-gen projects under development, which will be announced in the near future.

Pitchford, in an interview with Gamasutra, confirmed the news.

Like Us on Facebook

"We've got a few things going on right now that we haven't talked about but that will appear later," Pitchford said.

Pitchford is just one of the many developers coming out in the open and revealing that the next-gen projects are already underway. He expressed excitement and interest in the arrival of the next-gen consoles.

"I'm always excited by movement forward," said Pitchford. "Some of that comes from iteration with our software, and some of it comes from iteration with hardware, and some of it comes from invention... each new step kind of gives us new tools and new capabilities that always makes the entertainment better, if we use it right."

Pitchford also acknowledged the fact that a more powerful console enables the user to get more out it. He stated that more power is always better and that there's "always things we can do that we cannot do today that we can do with more power."

However, we are yet to get any kind of official confirmation about the development from both the game developers and console makers i.e. Microsoft and Sony.