Last month, there were rumors that Sony is preparing for the release of PlayStation 5 especially since Microsoft is working on Xbox Project Scorpio set for launch this year. With Microsoft's recent update regarding its upcoming console, the discussion on how Sony will compete is once again up.

Macquarie Research Analyst Damian Thong said that Sony may release the PlayStation 5 sometime in 2018. Once in the market, it is expected to be the most powerful gaming console.

Currently, the Xbox Project Scorpio promises to deliver six teraflops of power for its upcoming console, along with a functionality that will cater to 4K games and videos. Nonetheless, the PlayStation 5 is said to carry 10 teraflops of power, along with 4K features and possibly virtual reality (VR) compatibility.

Thong believes that Sony is in a good position as a company this year and is going to be in an even better one next year. The analyst cited some of the notable achievements of the company including the launch of Sony Xperia XZ and XZ Premium, but he banks on PlayStation 5 "to secure the installed base" of the company.

Meanwhile, there are rumors indicating that the PlayStation 5 may be unveiled at the upcoming Electronic Entertainment Expo (E3) this June. However, many people believe Thong's predictions, both in terms of specifications and timing, since he was also the one who accurately forecasted the launch of PlayStation 4 Pro and PlayStation 4 Slim earlier.

It should also be noted that the PlayStation 4 is still selling well. According to Sony, the new generation console has sold about 53.4 million units since its launch in 2013. In addition, the slim version of PlayStation 4, as well as the PlayStation 4 Pro are relatively new to the market. It may not be wise for Sony to launch a new console in just a very short span of time, as it may compete with each other.

For now, fans will still have to take the information with a grain of salt as Sony has yet to confirm its plans regarding the matter.