Sony shipped 10 million PS5s in just five months last year, and Xbox hardware sales were up 3 percent last quarter. But AMD, whose gaming business provides their chips, is forecasting a “significant double-digit percentage” decline in gaming revenue now that we’re in “the fifth year of what has been a very strong gaming cycle.”

We won’t hear from Sony again till Valentine’s Day, but Microsoft just confirmed: next quarter, Xbox hardware revenue will decline year-over-year.

Microsoft has internally suggested the next gen of consoles might arrive in 2028.