Activision revealed earlier this year that they would be switching Call of Duty to a 3 year development cycle instead of a two year development cycle back in February. Sledgehammer is the third development studio that is working on Call of Duty, and they plan on releasing their game during 2014. This would presumably mean Treyarch's Call of Duty would be released in 2015, with Infinity Ward's next game coming in 2016.
Sledgehammer Games revealed the first in-game image for their unnamed 2014 installment of the Call of Duty franchise to IGN.
The game is expected to be released on PlayStation 4 and Xbox One with no word on a Wii U release.