Yoshido stopped short of referencing a PS5 specifically, but in an interview with the Financial Times, he did acknowledge that "it's necessary to have next-generation hardware" product at this point in the game. Yoshida wouldn't commit to a name, or explain what form that hardware would take.
It's the traditional format for the video game business: Produce a new, more powerful game console every 5 to 10 years that's distinct from previous hardware generations.
The PS4 launched back in November 2013 alongside the Xbox One, meaning both consoles are nearly five-years-old. But will there be a PlayStation 5? Six years after the PS2, the PlayStation 3 launched, with the PS4 following seven years after that.
According a recent leak regarding that commentary, "People in the games publishing industry with knowledge of Sony's plans for a future console said that early indications were that it might not represent a major departure from the PS4, and that the fundamental architecture would be similar".
The biggest shifts in the gaming world are those from consoles to mobile devices, the rise of online streaming-cloud gaming, as it were-and the emergence of so-called "esports".
Given that the PlayStation 4 continues to sell tremendously well, it's no surprise that Sony would want to hold off for as long as possible.
Regardless of what Sony declined to say, we now know that new hardware is in the works.