Sadly, new consoles were not announced at this years E3. Sure, we heard more about Wii U, but this wasn't a surprise since Nintendo got the ball rolling early last year. So why hasn't Microsoft or Sony announced any new consoles?
The easiest answer is that developers are still pushing the current consoles to their limits. Great examples of this are The Last of Us and Halo 4. Both titles look fantastic on these 'old' consoles. Some developers are complaining that they need more processing power, yet these games are doing just fine with what they have. If current generation consoles are capable of these graphics, why put out something new?
Another theory (a crazy theory) is that they are waiting to see what happens with cloud gaming. Cloud gaming is just an infant, but many industry giants see it as the way games will be distributed in the future. It's very practical, and can definitely help cutdown piracy. If this technology is successful, Microsoft/Sony might want to incorporate this feature into their systems.
The last theory, and the one I think is the most feasible, is that they are simply waiting for the time to be right. Many products that bring new ideas to the table can be shot down if consumers simply aren't ready for them. Perhaps Sony/Microsoft are waiting for gamers to accept motion controls, or 3D.. or they are waiting to see how the Wii U fares and will fix it's mistakes for their launches. These new consoles might be amazing, but if we don't see them as practical, the companies won't sell any units. Politics and money run this big companies, so they certainly don't want to jump the gun.
What do you guys think? Any theories as to why no new consoles were shown this year?