The Xbox 360 is about six-years old. The PlayStation 3 and Wii almost the same age. Microsoft and Sony had said that their current consoles will have 10-year life cycle and it looks like they were pretty on target. A Wii 2 is even expected this year to compete with the 360 and PS3′s Kinect and PlayStation Move motion controllers.
Now we have word that Square Enix, makers of Final Fantasy and Dragon Quest to name a few, are already planning to open a 100 staff studio in Canada next year. This way they will be ready for the next generation consoles and get their games out accordingly.