Sony officially went on record, announcing it is working on a successor of PS4.
Though the upcoming console has not yet been labeled, a good guess is that it will be called PlayStation 5 or PS5.
Sony's newest console will compete with Microsoft's device which was announced at E3, this year, by the team that made Xbox One X.
Read about it here.
Sony boss, Kenichiro Yoshida said in an interview, "At this point, what I can say is it's necessary to have a next-generation hardware".
However, it does not appear that the upcoming console will depart radically from PS4 and, going by early indications, their fundamental architectures will be similar.
Moreover, Sony is not rushed to release it since PS4 is still helping them earn billions.
While not much is known about Sony's upcoming console, streaming will be a key offering.
Sony already has forayed into this through its PlayStation Now service that gamers have to subscribe to.
Microsoft too announced Project xCloud, its streaming service, and chatter suggests the upcoming consoles will have multiple types - traditional and streaming.
It remains to be seen if Sony will follow suit.
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