The rumors are rife that Sony is already working on the PlayStation 4 successor, although it is still uncertain if the next-generation console will launch anytime soon. It is speculated that the PlayStation 5 will take some time to be developed, with the most possible release date in 2020.

As reported by Game Rant, many sources claim that Sony will be ready to present the PlayStation 5 sometime this year. However, the rumored arrival of the PS5 in 2018 might be too early, considering that the updated PlayStation 4 Pro console was just released a year ago. While others think that Sony could find the time to unveil the PlayStation 5 in 2019, it is more likely that the console will be out in 2020, just like what the industry analysts are expecting.

Some people might think that the PlayStation 5 is long overdue, given that Sony released the current PlayStation 4 console in 2013. Although, it should be kept in mind that console developers like Sony and Microsoft Xbox take several years to prepare their next-gen hardware.

Take the Xbox 360 as an example, the console had been around for almost eight years before the Xbox One arrived. As for the PlayStation 5, it is believed that Sony would take at least seven years to develop the PS4 successor, given that it also took the same number of years for the PS4 to be released after the PS3.

Contrary to the 2020 release date report for the PlayStation 5, an earlier scoop suggests that the console will be unveiled as early as this year. It was reported that the dev kits for the PS5 are already in the possession of software developers, who will test the early build of the console. Of course, this is not a guarantee that the PlayStation 5 will be released anytime soon. If anything, the action of Sony's competitors might be the driving force to have an earlier launch date for the PS5.

The PlayStation 5 was tipped to have AMD's custom Zen processor with a next-generation Navi graphics card. Also, the console is expected to have its built-in virtual reality component that would no longer require the use of an accessory or headgear such as the PlayStation VR.