Xbox 720, PS4 to be the last generation of consoles?

You may want to slow down demand for a new Xbox or PlayStation console because if the CEO of Paradox Interactive, Fredrik Wester, is right then the Xbox 720 or PlayStation 4 might be the last console we see.

"The next generation of console hardware will probably be the last," he said at the company's annual showcase, making his usual gaming industry predictions.

"I'd be surprised if we see another generation after that," he added.  Wester instead foresees more digital-focused platforms and distribution, predicting a decline in boxed products, and the rise of "open" platforms like PC, mobile, and social networks.

Despite a rise in cloud gaming and digital sales, I have to disagree with his prediction.  Now I can't analyze his brief statement too much, as I do not have the full context (quoted by Strategy Informer), I can argue the general statement.

While mobile gaming is fun, the genre has yet to prove it can outlast console gaming.  Sluggish PS Vita sales are only adding to the sentiment that gamers aren't willing to dish out hundreds of dollars on a handheld system.

It's no secret that companies often lose money on console sales for the first few years after a new console is released, so it's very possible that any next-gen console could be the last for "a long time", but to think in terms of "forever" is pretty ignorant of future technological advances.

Granted, these advances could be with cloud gaming and digital distribution, so I won't completely write Wester's prediction; but I feel we are a long way from being capped at processing power, graphics, speed, etc.