The rumors about a new gaming console coming out usually start as a whisper on a forum and end with everyone convinced they know the exact teraflop count of a machine that doesn't exist yet. Right now, we are in that weird, messy transition period.
You've probably heard that the "mid-gen" era is over and we’re heading straight for the 10th generation. Honestly, it’s not that simple. Between the Nintendo Switch 2 finally hitting shelves and Microsoft's Sarah Bond teasing a "technical leap" that sounds like science fiction, 2026 is becoming the year the console wars actually change shape. It isn't just about faster chips anymore. It's about whether your console is actually just a PC in a fancy box.
The Nintendo Switch 2 is Already Here (Sorta)
If you’ve been looking for a new gaming console coming out, the Switch 2 is the only one you can actually talk about with any real certainty because, well, it's out. But people are still confused about what it actually is.
It isn't a 4K powerhouse that’s going to beat a PS5 in a spec fight. It’s basically a massive upgrade to the portability we already loved. We're looking at a custom Nvidia Tegra T239 chip—codenamed "Drake"—and about 12 GB of LPDDR5X RAM. To put that in perspective, that’s triple the memory of the original Switch.
What's actually interesting is the software side. As of January 2026, the eShop is already being dominated by "Nintendo Switch 2 Editions" of games like Hades 2 and Stardew Valley. But the real heavy hitters are the "Upgrade Packs." If you own Zelda: Tears of the Kingdom, you aren't buying it again; you're downloading a patch that lets the new hardware push the game further.
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What the Switch 2 Specs Actually Look Like
- The Screen: A 7.9-inch LCD. It’s bigger, sure, but the 120Hz refresh rate is the real hero here.
- The Power: Roughly 3.09 TFLOPS when docked. That puts it somewhere in the neighborhood of a portable PS4 Pro, but with modern features like DLSS that make it look way sharper.
- The Gimmick: Magnetic "Joy-Con 2" controllers. No more sliding them into rails; they just snap on.
There is a rumor floating around about a model called "OSM" found in the Nintendo Account portal. Some folks think it stands for "Ounce Small Model," which would basically be a Switch 2 Lite. Nintendo hasn't said a word, but the "Ounce" codename has been linked to the Switch 2 for ages. If history repeats itself, we’ll see a smaller, cheaper version by the holidays.
Xbox Magnus: The New Gaming Console Coming Out to Kill the Console
Microsoft is currently doing something very "un-Microsoft." They are reportedly fast-tracking their next-gen machine, codenamed "Magnus," for a late 2026 release. Why? Because the Series X didn't move the needle the way they wanted, and they’re tired of playing second fiddle to Sony’s hardware sales.
The "Magnus" project isn't just a Series X with more fans. Sarah Bond, the President of Xbox, has been on record saying they are aiming for the "largest technical leap" in a single generation. The chatter from insiders like Jeff Grubb suggests they might skip the "Pro" phase entirely and just launch "Xbox Next."
The big rumor—and take this with a grain of salt because it's a huge shift—is that this new gaming console coming out will be a PC-hybrid. Imagine a box that runs a "curated" version of Windows. You wouldn't just be locked into the Xbox Store; you could potentially run Steam or Epic Games Store directly on the console.
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This would explain why they’ve been so cozy with the ASUS ROG Ally team lately. They’re testing the waters. If Magnus launches in 2026, it won't be competing with the PS5 Pro; it’ll be competing with gaming PCs.
Where Does Sony Fit into 2026?
Sony is the outlier right now. They just finished pushing the PS5 Pro, and they seem perfectly happy to sit on that for a while. Their 2026 strategy appears to be all about "PSSR2"—the second version of their PlayStation Spectral Super Resolution.
The rumor is that an update coming between January and March 2026 will turn the PS5 Pro into a "120 FPS machine" for games that currently struggle to hit 80. They aren't looking for a new gaming console coming out this year; they’re trying to make the one you just bought feel new again.
However, we are seeing "PS6" leaks start to surface. While most analysts point to 2027 or 2028 for a full-blown PlayStation 6, there is talk of a "mini-PS6" or a new handheld Vita-style device to counter the Switch 2. Sony is watching the handheld space very closely. They know they can't let Nintendo and the Steam Deck own that entire market forever.
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The Reality of Game Prices and Compatibility
One thing nobody wants to talk about with these new machines is the cost. The Switch 2 launched at $500. Xbox raised the base price of the Series X to $649 back in late 2025.
If a new gaming console coming out in 2026 uses the "Magnus" chip or whatever Sony is cooking up next, expect to pay $600 to $700. The days of the $399 flagship console are dead. Silicon is getting more expensive, and the "process nodes" (the tiny tech inside the chips) are getting harder to manufacture.
The good news? Backwards compatibility is no longer a "feature"—it’s a requirement. Whether you buy the Switch 2 or the rumored next-gen Xbox, your library is coming with you.
Actionable Insights for Gamers in 2026
- Don't trade in your old Switch yet. Check the eShop for "Upgrade Packs." Many games you already own will get free or cheap digital upgrades for the new hardware.
- Wait on the Xbox "Pro." If you're thinking about a mid-gen refresh, hold off. The rumors of a full-blown next-gen machine (Magnus) arriving in late 2026 are getting too loud to ignore.
- Invest in a high-refresh monitor. 120Hz is the new standard. If your TV or monitor only does 60Hz, you won't see the benefit of the Switch 2's handheld screen or the PS5 Pro's PSSR2 updates.
- Monitor the "OSM" leaks. If you prefer the handheld experience of the Switch Lite, a "Switch 2 Small" is likely coming sooner than you think.
If you are looking for a new gaming console coming out, your best bet is to focus on what fits your lifestyle. If you want the "PC in a box" experience, watch Xbox. If you want the best portable exclusives, the Switch 2 is already the winner. Just don't expect the price tags to get any smaller.