Both PlayStation 4 and Xbox 720 are making headlines almost every day with new rumored specifications and leaks. While both Sony and Microsoft are expected to reveal the official specifications and a release date for both the consoles, nobody exactly knows when they will arrive.

Now, per reports, it has been stated that the PlayStation 4 could arrive sometime in October or November next year.

The new information was disclosed by Wedbush Morgan analyst Michael Pachter in an interview with Play Magazine.

“I don't think Sony wants to launch behind Microsoft again, so I'm confident we'll see a PS4 in October or November 2013. It isn't likely that they will launch earlier, as it doesn't make sense to get out too far in front of software, and I'm pretty confident that few developers have been working on PS4 games for more than a year or so. Holiday 2013 will be a comfortable window for Sony, and will give them a chance to get a head start on Microsoft," stated Pachter.

Pachter also feels that the current generation PlayStation 3 still has a solid three years under its belt to continue performing for gamers all over the planet, and will still sell long after the PlayStation 4 has been introduced by Sony.

“The PS3 probably has a solid three years left for sales, so it should make it comfortably to a 10-year life span," he said. "There are a lot of people who are uncomfortable spending $250 for a console, so I think price cuts to the $199, $149 and $99 will extend the life of a console."

While Pachter feels that the console could arrive sometime in October or November next year, a recent report stated that game developing company Ubisoft wants the next generation consoles to arrive a bit faster than it normally will. This was stated in defense of all the game developing companies for whom this current situation doesn’t really augur well.

“I think that what has happened is the transition has been very long. You know, in the industry, we were used to changing machines every five years. This time we are in the seventh year of the 360. We need new consoles and at the end of the cycle generally the market goes down because there are less new IPs, new properties, so that damaged the industry a little bit," said Yves Guillemot, CEO, Ubisoft, told Polygon in an interview.