EA currently sees no need for a new round of hardware, according to top exec Frank Gibeau.
The EA Labels boss told CVG that he struggled to envisage what else Sony and Microsoft could offer with a new console.
"It's hard for me to conceive what you would do on a PlayStation 4," he said.
"The displays are already 1080p, you're already connected to the internet... You could make it faster, you could have more polys and you could up the graphics a little bit... but at what cost?
"It'll be interesting to see how [Sony and Microsoft] think about it in terms of the next generation," he added, insisting that EA is "happy to build games on [360 and PS3] right now."
He pointed to DICE's forthcoming shooter Battlefield 3 as an example of how developers are still finding ways to push the PlayStation 3 and Xbox 360.
"One of the things that we like is that the technology is consistent, and we believe that there are still things that you can do on these systems... we haven't quite squeezed the last ounce of hardware horsepower out of these things, as you can see with Battlefield 3.
"Frostbite 2 technology coming in can do some really interesting things that nobody is able to do, and you see some great stuff coming from our competitors too," he said.
Gibeau added that it's not only publishers and developers who are in no hurry for the next gen to arrive. As he sees it, customers are perfectly content with what today's systems offer too.
"I'd like to see the cycle last a little longer. I don't see consumers right now banging on the walls for a new platform. They seem to be very happy with their PS3s and 360s. They love the online connectivity, they have great communities and great libraries."