After dominating the gaming console industry for years, Sony and Microsoft are said to be taking their rivalry to a different level with the emerging PS4 Neo vs Xbox Scorpio storyline.

Over the past two decades, the two tech giants have released a new console every three to six years, a cycle that is well known to their avid followers.

However, Sony and Microsoft have reportedly decided to shorten their self-imposed deadlines, and release the PS4 Neo and the Xbox Scorpio sooner than expected, according to The Week.

Quoting an interview with the Financial Times, the news site said that Sony CEO Andrew House confirmed the development of an "ultra high-end" PS4 console called the Neo.

On the other hand, Microsoft announced during the E3 that its powerful Xbox Scorpio was in the works, leading industry observers to predict of an impending PS4 Neo vs Xbox Scorpio war.

With this development, many have theorized that the two tech companies would be updating their gaming consoles with more regularity, and perhaps do away with their three to six year self-imposed timeline.

With the rumored roll out of the consoles expected to happen within the next 18 months, gamers are perhaps now in a quandary, as they need to decide what console to choose.

For instance, there are speculations that the PS4 Neo and the Xbox Scorpio will be more powerful than their predecessors, reported Pocket Lint.

In particular, the Scorpio will reportedly have six teraflops of computing power that will allow it to render 4K graphics, while the Neo will include 4.14 teraflops of GPU power.

The tech site also hinted that both consoles will be equipped with 8 GB of RAM, including processors featuring clock speeds that can go beyond 2.1GHz.

Meanwhile, Tech Insider noted that the next-gen Xbox looks more powerful on paper, but its reportedly higher specs will not be a guarantee that it already has an edge over the upcoming PS4.

Gamers can therefore expect the PS4 Neo vs Xbox Scorpio war to intensify in the coming months leading up to their official launch.