It's only been two years since the release of the PlayStation 4 and Xbox One, but it seems that Sony and Microsoft are already thinking of the next generation to replace them.

In fact, there have been rumors of the PlayStation 5 and Xbox Two being already under way.

Tech Spot reported that the typical life cycle of a premium console is around seven years, and another three before they slowly pull them out on shelves. However, it seems that the two companies are planning to break the cycle and forge ahead, due to several factors.

1. 4K resolution is becoming the next big thing, and despite the slow rollout, prices are dropping for 4K-compatible gadgets including television and mobile devices, and to put it gently, today's gaming consoles don't have the horsepower to support 4K technology for gaming purposes.
2. Virtual reality also needs faster hardware. The Oculus VR, for instance, has been revealed with the high-end PC hardware, but not for consoles... because they don't have the power for that yet, especially for VR games that offer a 4K experience.
3. Rumors say that AMB -- whose hardware is used by both Sony and Microsoft, is already offering both companies a new hardware with five times faster the performance of current consoles per watt. This will allow Sony and Microsoft to move on to an x86 architecture that will simplify game development.

T3 has noted that Xbox One and PlayStation 4 consoles have been strong on the market, so it does make sense for both companies to push out new models so soon, however, no actual news have leaked out and the outlet is fairly certain that the new consoles will be five to six years away, so if there are new ones in the pipeline, they are at their early stages yet. Value Walk suggested that the consoles may come out by 2018.

Most of the gaming community, however, believes that the biggest difference in the new consoles will be the lack of a disc drive, which means that they will be relying solely on the internet for game downloads. However, Game N Guide noted that many agree that it is likely both Sony and Microsoft will have to continue evolving to keep players interested. However, the death of the consoles have been predicted often, and with platforms like Steam Box gaining popularity, it is possible that most of the games will be without the need for discs in the future.

It's just in the matter of who will do it better. Do you think Sony and Microsoft are ready to make new generation consoles?