It’s about as obvious as news gets but Sony has finally come out and said it - it’s working on a PlayStation 5.

Sony head honcho Kenichiro Yoshida confirmed as much during a new interview with the Financial Times, admitting a successor to the PlayStation 4 is currently in the works. Yoshida didn’t go as far as to confirm it’ll be called the PlayStation 5, but I’d bet my dusty Vita it is.

"At this point, what I can say is it's necessary to have a next-generation hardware," said Yoshida. His response wasn’t exactly gushing during the interview, merely confirming Sony’s intentions to continue in the dedicated console business. This perhaps wasn’t always the dead cert it seems, particularly with the rapid advancement and competition in the streaming space. With PlayStation 4 becoming the mammoth success it has though, it practically guaranteed Sony wouldn’t want to leave money on the table with a successor.

As for what form the PlayStation 5 could take, after its chat, the Financial Times is suggesting it “might not represent a major departure from the PS4”. On that front, it sounds as if the fundamental x86 architecture and design could remain much the same. This factor could make backward compatibility with PS4 titles a comparative breeze, and it’s probably going to be a necessary step considering Microsoft’s recent progress on this front with the Xbox One.

There’s definitely an expectation that both next-gen consoles are backward compatible, presenting permanent platforms wherein users’ purchases carry over from one generation to the next.

With Sony higher-ups ready to hint at the PS5, 2019 sure is shaping up to be an interesting year. While it might be a little optimistic to expect a launch next year, a reveal isn’t totally off the cards. I for one can't wait on the influx of terrible mocked up renders. Roll on E3 2019….

What specs are you expecting for the PS5? How can Sony ensure success for the next console gen? Let us know your thoughts!