Recently, it was rumored that Nintendo is planning to announce the successor to the Wii at E3 this summer, with the new high-powered console scheduled for release in 2012. But we haven't had word on when Microsoft and Sony were planning to update their consoles, which have now been on market for five years. Until now. I

In a new report, Kotaku cites multiple sources that claim both Microsoft and Sony are currently planning to delay the release of their next generation offerings until 2014. The tech titans are said to be looking to continue to milk the current generation consoles, which have been continuously outfitted with new bodies and peripheral hardware like Kinect and Playstation Move.

Last time around, both Microsoft and Sony were unexpectedly walloped by the runaway success of Nintendo's Wii, so we're not sure why either company would willingly give the Mario maker such a head start. Launching new consoles is never fun for companies, as it's typically a money losing endeavor, but a 2014 release would mean 8-9 years between console generations-- an unprecedented amount of time.

Expect more announcements (and rumors) as we get closer to E3 starting June 7.