Considering Sony and Xbox console life spans, many gamers have been met with a red light of death, or the red ring of death. While this is something to fear for gamers who use their consoles to the max, slimmer models have been manufactured help to increase a system's longevity.

With their advances in ventilation, slimmer models have the same power and capabilities as their larger predecessors, but halve the risk of overheating.

The launch of Sony's Playstation 4 last year was a major success, and stores are still selling the next-gen console to this day. With the booming unit sales of PS4 in mind, and as history has shown, fans are expecting an announcement about a PS4 Slim model relatively soon.

The release date of the PlayStation 4 Slim is a big debate for gamers, as some question whether or not it will happen at all.

As it stands, PlayStation fans are speculating that the Electronic Entertainment Expo (E3) event in 2015 will witness the launch of the PlayStation 4 Slim, creating a hype encouraging them to buy up the slimmer and more stable version of the console.

User Alpatun, who belongs to the Sony community forum, said, "I'm going to wait till E3 to decide. Sony's plans or aspirations may look good on paper, but until I see the reality behind it I'll decide whether or not to get one at launch. I've purchased all their previous consoles at launch, but with the PS3 the first year was rather slow and I should have held out for at least a year before buying one."

For now, unless they should spot a red light on their console, fans should just enjoy their regular PS4's while they can.