The new PlayStation is finally coming

Sony has confirmed to have started working on the new PlayStation console, now that the 5th anniversary of PlayStation 4′ launch is around the corner.

“At this point, what I can say is it’s necessary to have a next-generation hardware,”

Sony’s president and CEO, Kenichiro Yoshida, said in an interview on ‘Sony commits to successor for PlayStation 4’ with the Financial Times.

However, Yoshida denied revealing the name of the future console, so there’s no data yet on whether it will formally be known as the “PlayStation 5.” There is no news on the release dates of this console either, despite the fact that John Kodera, the CEO of Sony Interactive Entertainment — Sony’s official gaming division — stated in May that the next PlayStation console is at least three years away.

Kodera went on to say,

“We will use the next three years to prepare the next step, to crouch down so that we can jump higher in the future.”

Sony wants to utilize that procedure through its 2020 financial year, which will close in the spring of 2021, so the much awaited PlayStation 5 may not launch at least by then.

Sony needs to launch the next PlayStation console and it doesn’t take an expert to know that. The PS4 is effortlessly Sony’s best equipped console since the PlayStation 2, which remains the best-selling video game console with more than 155 million units sold, and that is a lot. Already overtaking the lifetime sales of the PlayStation 3, Sony has sold a little over 81.2 million units of the PlayStation 4 throughout the world.

Speaking on the financial basis, the PlayStation division has been Sony’s best performing financial department in each financial year since the release of PlayStation 4 by the same department in November 2013 (i.e., beginning with the 2014 financial year, which started on April 1). In Sony’s 2017 financial year, which finished March 31, 2018, income from Sony Interactive Entertainment added up to 1.94 trillion yen ($17.53 billion) — about 23 percent of the Sony’s $75 billion total revenue.