Sony confirms a 'next-generation' PlayStation is in development

An attendee walks past the Play Station logo in the Sony Interactive Entertainment booth during the Tokyo Game Show 2018

Getty Images

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.

Both Sony and Microsoft altered that cycle this generation by releasing half-step upgrades in the PlayStation 4 Pro and Xbox One X, respectively.

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.

A patent filed by Sony, "remastering by emulation", alludes to a new-fangled method for presenting updated textures in older titles so they can look their best on higher-definition displays.

Regardless of what Sony declined to say, we now know that new hardware is in the works.

Second Skripal poisoning suspect revealed as 'Russian doctor'
Kavanaugh sworn in again during ceremonial event at White House