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- Sony and Microsoft are working on the next versions of PlayStation and Xbox, respectively.
- Both new consoles are expected to arrive ahead of the holiday shopping season next year.
- Though neither console has an official name just yet, we know a surprising amount of confirmed information about the new consoles thanks to Sony and Microsoft.
- Visit Business Insider's homepage for more stories.
It's true: In just over 12 months, a new PlayStation and a new Xbox are scheduled to launch.
For those of you keeping score at home, that's the fifth PlayStation and fourth Xbox generation. As such, it's likely that the next PlayStation is called PlayStation 5. The next Xbox's name is anyone's guess - it's currently codenamed "Project Scarlett" by Microsoft.
Though neither has gotten the full showcase treatment just yet, both Sony and Microsoft have detailed the consoles with a surprising amount of specificity. As such, we've broken down the similarities and differences below - here's how the two consoles stack up:
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