In an interview with the Financial Times, Sony president and CEO Kenichiro Yoshida said: “At this point, what I can say is it’s necessary to have a next-generation hardware."
Kenichiro did not confirm if this console will be called the PlayStation 5 or when it will be released. However, some industry analysts are predicting we could see the next-generation console in 2020 or 2021 – while others predict it could be as soon as Christmas 2019.
Sony Interactive Entertainment's CEO John Kodera has already confirmed the PlayStation 4 is coming to the end of its life cycle, so confirmation of a next-generation PlayStation console is not surprising.
Depending on when it's released the new console could be going head-to-head with the next Xbox – codenamed Xbox Scarlett – which is rumored to be arriving in 2020.
Get daily insight, inspiration and deals in your inbox
Get the hottest deals available in your inbox plus news, reviews, opinion, analysis and more from the TechRadar team.
Vic is TechRadar Gaming's Associate Editor. An award-winning games journalist, Vic brings experience from IGN, Eurogamer and more to the TechRadar table. You may have even heard her on the radio or speaking on a panel. Not only is Vic passionate about games, but she's also an avid mental health advocate who has appeared on both panels and podcasts to discuss mental health awareness. Make sure to follow her on Twitter for more.