We've heard Sony say they don't want to be second to market again behind Microsoft, as it pertains to new video game hardware. We've also heard them say the PS3 has plenty left in the tank, and they don't require a new system right now.
So which is it? Well, the recent update said both Sony and Microsoft will unveil their next-generation consoles in March but even if that's true, the PS4 (or Orbis) may indeed launch behind the new Xbox.
In speaking in the business section of the New York Times (as cited by IGN ), Sony CEO Kaz Hirai basically stated that his company wouldn't mind following Microsoft:
"Why go first, when your competitors can look at your specifications and come up with something better?"
Not only does this imply that Sony's machine will launch later, it also implies Sony will wait to see what the next Xbox is like before even settling on specs for the PS4. Hence, their console could be a long ways off. However, what Hirai said can hardly be considered a confirmation of any kind, so perhaps we're reading too much into it.