The PlayStation 4 has been on the market for 5 years now. In terms of technology, that's a lifetime. As expected, Sony, Microsoft, and Nintendo have all been rumored to be working on new gaming systems. The battle for dominance in the next-generation of gaming consoles has already begun behind the scenes. While online speculation and research has already graced us with some Xbox Scarlett details, Sony has finally confirmed that they are working on the successor to the PlayStation 4. 

In an interview with the Financial TimesSony president and CEO Kenichiro Yoshida claimed that his company is working towards their next console. “At this point, what I can say is it’s necessary to have a [sic] next-generation hardware,” Yoshida stated. He remained coy about any further details, and declined to confirm whether or not the system would be called the PlayStation 5. 

Sony has been in the lead for years when it comes to console sales. The PlayStation 4 console has sold roughly 76 million units worldwide, in comparison to Nintendo's Switch (17.79 million) and Microsoft's Xbox One (Between 30-50 million units). The PlayStation 3 was also a commercial success. The PlayStation's strength comes from the catalog of exclusive games, which included Marvel's Spider-Man and God of War in this year alone.