High Quality Content by WIKIPEDIA articles! In the history of video games, the eighth generation is the current iteration of video game consoles, following the previous seventh generation: Nintendo`s Wii, Sony`s PlayStation 3, and Microsoft`s Xbox 360. This currently includes Nintendo`s home console successor, the Wii U, which was released in the fourth quarter of 2012. Several journalists have classified the system as the first eighth generation home console. Meanwhile, the multi-million dollar pre-sale success of Ouya through crowdfunding has raised open-source development and the free-to-play model as key issues to be addressed by 8th generation consoles. The successors to the PlayStation 3 and Xbox 360 are expected in 2013 or 2014; they have been reportedly codenamed Orbis and Durango, respectively. The successor to the Xbox 360 has been planned to be released in the 2013 holiday season. Claims have been made that the eighth generation of video game consoles will face stiff competition from the smartphone, tablet, and Smart TV gaming markets.