10/8 UPDATE : PS5 coming Holiday 2020 with enhanced new controller

10/08/19 UPDATE :  Sony confirms Holiday 2020 release for "PS5" and details the haptic feedback aspects of the new controller.

6/25/19 UPDATE :  Another "leak" from an insider.  I will update the rumored specs below.  The summer of PS5 hype is just beginning!

6/24/19 UPDATE :  The person who had "leaked" correct intel about Sony's departure from E3 and recently about a remastered Ape Escape title also spoke about some aspects of the PS5.  The retail price will range between $499 - $599 depending on Sony's willingless to take a hardware loss or not.  The new PS5 controller will feature a camera,   PSVR version 2 will be wireless but won't be available during PS5 launch window (which is still on track for next year between March and November 2020). 

6/20/19 UPDATE :  Microsoft back pedals on multiple next-gen consoles development to focus solely on Scarlett (high-end specs version to rival PS5)  Report HERE

6/18/19 UPDATE :  Veteran industry analyst Michael Pachter forecast the next-gen consoles can be as cheap as $399 if Microsoft plays hardball with their competition.  Interview HERE

6/14/19 UPDATE :

NEXT PLAYSTATION CONFERENCE / NEWS UPDATE to be held in TOKYO on JULY 15TH.  Demos of upcoming PS4 games will be shown, unannounced games will be revealed, and stage events similar to their annual Tokyo Game Show presentations will be live-streamed.  Stay tuned & GET HYPED! 

5/20/19 UPDATE :  PS5 displayed little to no loading time during a Marvel's Spider-man game sequence when compared to a PS4 Pro.  [as noted from a report during a Sony briefing in Japan] .

5/08/19 UPDATE :  On the heel of the upcoming PS "State of Play" broadcast tomorrow (5/9), there will be 2 new PSVR bundles launching at the end of May 2019.  [as noted from official Playstation Store news website] .

4/26/19 UPDATE :  Next-gen Playstation console will release some time after April 2020 with an investment of 31.1 billion yen (around $279 million) towards the development [as noted from summary of Sony Interactive Ent. Q4 fiscal report ending 3/31/19] .

 
4/16/19 UPDATE :  Exclusive interview with Mark Cerny (Lead System Architect for PS5) reported on Wired website.



The latest rumor for Sony's follow-up to the Playstation 4  is as follows :

• Official announcement around E3 Expo 2019  (early June)
• Release date scheduled for 2020 with expected retail price of $499
• New Playstation Plus Premium Service will also launch (dedicated server / early access) 
• New upgraded PSVR headset will also launch

Technical SPECS rumored for the Playstation 5 console :

• 7nm Zen 2 AMD Ryzen (3rd gen) Octa Core CPU @3.2Ghz clock speed
• Between 16GB to 24GB GDDR6  RAM
• Custom Radeon Navi 14.2TF GPU @ 1.55Ghz, Next Gen RDNA, 36 Dual-CU, 64 shaders 
• 2TB SSD Storage  
• Hardware Ray Tracing 
• Immersive 3D Audio support
• 8K resolution and 120Hz refresh rates support 
• Full PS4 games backward compatibility 
• Holiday 2020 release

Sony won't debut a console without a conference to properly dedicate time to it, so E3 is out. PSX is where they will unveil it, on their terms and room to breathe away from distraction. The most we'll get in the near future is a price drop on PS4.

Expectation is Oct 2019 announcement with summer/ fall 2020 release

https://www.engadget.com/2019/04/16/sony-first-playstation-5-details/

Some new details about the system, beyond the obvious more powerful GPU/CPU. Looks like the next big hardware change will be with storage... the example used is kind of insane, fast travel in Spider-Man going from 15 sec to under 1 second. While this sounds really nice, this doesn't sound like any type of SSD/NVMe storage and I'm hoping this isn't some proprietary storage or irremovable storage. I've always liked being able to swap out the storage on my PS3 (vs paying the ridiculous prices MS charged on 360 HDs) and PS4 (where the HD fills up quick due to PS+ games).  

I'm also curious as to what, if any, benefits PS4 games will have running on PS5. Would love for 4k60 PS4 games but doubt it's possible without patches. 

And I'm still hoping (though I know it's not gonna happen) for some kind of full BC with PS1-3. I know people always wonder why anyone cares about BC when you just bought the latest and greatest but truly classic games are always fun to play. But hooking up all those old systems is a hassle. 

Kamagii said:

Expectation is Oct 2019 announcement with summer/ fall 2020 release

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I would say spring release given they're starting to detail things now, about a year out I'd estimate.

I've updated the top post with the new information provided from the exclusive report on Sony's next-gen console follow-up.  Thanks guys for the contributions and ongoing discussions. Cheers!

Jodou said:

I would say spring release given they're starting to detail things now, about a year out I'd estimate.

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I believe Sony will follow its previous set release pattern and bring out the PS5 sometime in Nov. 2020. It correlates directly to 7yrs since the PS4 had launched (Nov. 15, 2013) which was also 7yrs from the original PS3 launch date (Nov. 11, 2006).

Latest news from Sony Interactive Entertainment financial report reveals that the PS5 will not debut for at least another 12 months ... which is still in line for a Fall 2020 launch date.  Ample time to starting saving up !

FatBoyInside said:

Latest news from Sony Interactive Entertainment financial report reveals that the PS5 will not debut for at least another 12 months ... which is still in line for a Fall 2020 launch date. Ample time to starting saving up !

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Some time after April eh? That spring release window looking even more likely!

They'd be sitting pretty just prior to E3 where they could unload exclusives and show off the FFVII remake. Hype!

Latest PS5 news update today ....loading time significantly reduced on the PS5.

Lots of PS5 "leaks" to report. Cheers!

Those rumored specs seem pretty unlikely if they want to keep this system affordable at this point... even in the next year or two, I just don't see how they put those specs in a PC and make it affordable. 

I think Sony needs to take control of the 8K and 120Hz narrative ASAP before people think that's the standard for all games. We might see some lo-fi games (like most indy games) in those specs but we won't see ND's or Guerrilla's next project at anything more than 4k60.