With the gaming industry heading to new horizons with the advent of VR gaming, more performance- and graphics-based video game titles and Nintendo coming out with a new console, PlayStation fans are wondering when tech giant Sony will come out with its own revamped, next-gen iteration for its home console.

While it has only been close to two years since the PlayStation 4 was launched, the advancement of tech and the ever-changing landscape of the gaming industry may see the need for another iteration of the PlayStation. According to Tech NewsToday, the last time the Japan-based tech giant has hinted at a possible PlayStation 5 is a Re/Code interview with Sony's Shuhei Yoshida last year. Yoshida said that instead of the company, it will be up to the game developers if Sony will come out with another PlayStation – the company will eventually commit to one should developers feel that they need a faster, more powerful, and specs-driven console.

Since then, no mention of a next-gen console has been made by the company.

Meanwhile, the PlayStation 4 is being constantly updated to reflect the ongoing changes in the gaming landscape. Aside from coming out with larger, 1-TB console editions, there are also some new models with upgraded specs and features, such as the CUH-1200, which has an improved sound and heat generation specs and more controlled power consumption, as reported by TechRadar,

However, home entertainment tech seeing new devices taking advantage of online connectivity, some observers surmise that instead of the boxy, appliance-type device that players have been accustomed to, Sony might again revolutionize the gaming industry with a smarter, sleeker and smaller PS5 with game streaming options instead of the traditional one.