It’s the buzz of the #gaming world, #Sony has just confirmed a new gaming console coming in the market. The tech giant has finally ended the months of speculations and rumors about the much-talked #PlayStation 5 (Ps5), but players should not expect it to come soon.

The latest rumors

Rumors are rife on the web that the Japanese tech giant might adopt a new strategy in its struggle with Microsoft in the hotly contested console market. Reports said that Sony may adopt some sort of an upgrade approach and come up with a heavily modified PlayStation console rather than release a fully-fledged PlayStation 5.

However, Shawn Layden, President, and CEO of Sony Interactive Entertainment has just confirmed that the works on PS5 is now full swing and the device will arrive at some point.

In a recent interview with the German-based gaming site, Sony talked more and has commented on the PS5 rumors for the first time, suggesting plans for a new gaming console. When asked by the media about the PS4 Pro’s approach to console upgrade, CEO Layden reaffirmed that all of its PS4 games will continue to run on the base model. Layden also said that Sony will more likely rely on the next-gen PS5 console.

Some analysts believe that there still plenty of power left in the PS4 console, specifically in the PS4 Pro, that is still untapped.

Some analysts believe that Sony can still get more on this with the potential of photo-realistic graphics before the works on PS5 started.

Sony’s PS4 and the Microsoft Xbox X competition

The company is currently waging a brutal war against Microsoft in the highly lucrative console market. Unfortunately, Microsoft has one big device that could stop Sony’s advance in the market.

It’s the newly announced Xbox X, the software giant’s ultimate weapon of choice in its struggle with Sony for supremacy in the highly lucrative gaming console market. The new Xbox console uses an eight eight-core processor, running at 2.3 GHz. It’s 6 teraflops GPU enables a true 4K gaming experience, with more detailed and smoother graphics.

The Xbox X without a doubt offers a substantial boost over its predecessor Xbox One, whose eight cores can run at 1.75 GHz only. For Sony, this means one thing- a serious threat to Sony’s console business.

The launch of Xbox X has caught Sony off-guard and with no immediate countermeasure. The company’s flagship console is now facing a much tougher competition, one that could leave them in the dust. This gives Sony no choice but to dig deep and find ways to fend off Microsoft’s threat.

Fortunately, Sony has managed to come up with some strategies, all aimed at beating Microsoft’s latest console. But some analysts believe that Sony might likely go with the idea of developing a new gaming console, instead of adopting an upgrade approach to its current console.

Release date speculations

As for the PS5’s most likely release date, there are already some speculations claiming that PS5 will be launched by 2019. Other takes the year 2020 as the most likely Release Date for the PS5 console, considering the amount of time needed to build a new fully-developed gaming console. The PS4 was first introduced in 2013, so the rumored 2020 release date would mean a grueling seven-year lifecycle for the current version of Sony’s PlayStation console.