Analysts believe that an early release of an Xbox 720 console by Microsoft could actually be beneficial for Sony.
Pundits speculate that if Microsoft's console hits stores before a PS4, it might trigger a sales spike for the PS3, which would probably have its price brought down.
"Should Microsoft release a successor to Xbox 360 and shift the pipeline for hardcore games over to the new consoles, that would be a possible scenario by which PS3 could bypass Xbox 360's active installed base," an analyst told Industrygamers. "This scenario would give PS3 the opportunity to soak up the hardcore sector."
Both Microsoft and Sony have said they will not release any new hardware before 2014. However, there have been several rumours that some new tech might be revealed at E3 next year.