Good news, gamers: the PlayStation 5 is on the way, and we already know a fair deal about the PS5 as well thanks to a series of leaks and reports surrounding the system, including plenty of industry whispers.
What follows is all the PlayStation 5 information we've gathered to date, covering details on the PlayStation 5's release date, hardware, specs, price, colours and software.
We've got to admit, we are massively excited - the PS5 looks like it's going to be an Xbox One X beater and epic upgrade on the already powerful PS4 Pro. How do we know? Well, that's because Sony could have already confirmed the existence of PS5 games, with the spectacular new Unreal Engine involved.
Don't get us wrong, we're currently absolutely loving the PlayStation gaming ecosystem that Sony is delivering right now, with some stonking exclusives like God of War absolutely blowing our socks off, but with Microsoft now sitting pretty as the company with "the most powerful console in the world", we're even more enthused than ever to see what Sony can fire back with.
And especially so in light of recent rumours that the PS5 could also be a next-gen PlayStation portable hybrid, too.
Sony PS5 release date
As the PlayStation 3 came out in 2006, and was followed by the PlayStation 4 in 2013, rumours circulated for months that the PlayStation 5 would launch around 2020.
Comments made by President and CEO of Sony Interactive Entertainment America, Shawn Layden, who stated that "there will be no new hardware announcements at E3" in 2018, seemingly indicated at a sooner rather than later release date, too.
However, on 22 May 2018, CEO of Sony Interactive Entertainment John Kodera confirmed to The Wall Street Journal that there would be no PS5 before 2021, putting paid to any hopes for an imminent PlayStation 5 release.
That's a disappointment but it doesn't look like Sony is going to shift its thinking, even though the Xbox Two aka Xbox Scarlett is tipped for a 2020 launch.
Sony PS5 price
When the PS5 does appear in all its glory, how much is it going to cost you?
We don't have too much to go on except the cost of PlayStations past – the PlayStation 4 originally debuted for £349.99/$399.99 and when it was reinvented as the PS4 Slim it began selling for £259.99/$299.99 and up.
The more powerful PlayStation 4 Pro, on the other hand, launched with a price of £349.99/$399.99, matching the original PS4 on that score – though you can now get all kinds of bundle offers and discounts on various flavours of the PS4 console.
Would Sony hit the £349.99/$399.99 price point again with the PlayStation 5? We'd say it's more likely that the final PS5 price will be a touch higher (as we've seen with the Xbox One X), somewhere around the £449.99 mark, though Sony will of course want to keep the hardware as affordable as it can for gamers.
Sony PS5 design
We don't have insider access to Sony's design or engineering departments, but given the advances in computing components over the last five years – continually getting faster, thinner, and smaller – we'd say the PlayStation 5 is set to be one fine-looking console, especially with Sony's previous track record.
Overall the PS5 should be smaller and sleeker, but even with increases in broadband speeds and the rise of streaming, we don't expect the PS5 to go all-in on the cloud and shrink down to a tiny Blu-ray box set size. The new console is bound to have some headline 4K games, which will benefit massively from being able to save assets locally – and so a local hard drive is still a must.
Add to that the need for multiple ports and plenty of room to keep the components cool, and the PlayStation 5 is still going to take up a decent amount of room under your television. The DualShock controllers might get a slight tweak, but with the muscle memory of millions of gamers to consider, don't expect massive changes.
As yet we haven't seen any leaked images of the PS5, if indeed it has taken final form yet – chances are Sony is still finalising the look at this stage. If you see something on the web claiming to be the new console, it's going to be a fan-made concept.
Sony PS5 specs
Sony will already be thinking about the specs inside the PlayStation 5 – hardware that's going to have to power the best 4K games and VR experiences that 2020 (or whichever year it launches) has to offer. We're still some way from a PS5 launch, but you can be sure the internal specs are going to be picked right from the top shelf.
One of the hottest rumours around the PS5 is that it's going to have a dedicated graphics chip, rather than combining graphics and processing on the same bit of silicon. The Xbox Two Scarlett is being tipped to go the same way, for what it's worth
Backing up that idea is news that the next-generation AMD graphics tech believed to be headed for the PS5 is already in production, according to sources: these advanced 7-nanometre chips, codenamed Navi, are said to be as powerful as some of the best graphics cards of today.
There are rumours that one of Sony's principal programmers is already hard at work on adapting AMD's Ryzen technology, pointing to a major performance boost for the internal guts of the PS5.
Having a separate GPU powered by AMD, as has been rumoured, would certainly help the PS5 hit those 4K/60fps high notes. You can expect a top of the line processor and plenty of RAM to be thrown in as well – so at least the 8GB currently found in the PS4 Pro, and possibly double that.
Sony PS5 games
Top-tier games are sure to play a huge part in the launch of the PlayStation 5, whenever it happens to be, and there has been talk that PS5 development kits are already in the hands of some game studios. Indeed, Sony's own Bend Studio is has just recently advertised a job calling for "Next Gen game console experience", so the idea that PS5 dev kits are out in the wild seems rather likely to us.
Polish game publisher CD Projekt Red has already said it's working on games with an eye on the next generation of consoles, which makes us think that Cyberpunk 2077 or something like it might be one of the first titles to hit the PS5, which is why we included it in our list PS5 games we're looking forward to play.
This year's E3 gave us a host of other upcoming titles that are likely to make it to Sony's next-generation games console: The Elder Scrolls 6, the intriguing-sounding Starfield, and Beyond Good & Evil 2.
Flagship games don't come much bigger than the Grand Theft Auto series, and considering GTA V came out in 2013 for the PlayStation 3 (later getting an update for the PS4), is it too much to hope that 2019 might be the year when Grand Theft Auto VI turns up?
Whatever games we see, they're likely to break new ground in terms of realism and detail, thanks to the extra power of the PS5 and advances in software design. Those in the know say we're not far off having games that look as good as the best Hollywood blockbusters, and that get rendered in real time.
Sony PS5: other rumours
There are plenty of other rumours swirling about the Sony PlayStation 5. We've touched on virtual reality already, and it's highly probable that Sony is working on version 2 of its PlayStation VR headset – this time though, all the necessary hardware should be built into the PS5, so you won't need an extra box between headset and console.
According to a recently uncovered patent, it sounds as though Sony is working on backwards compatibility options that would mean you could play all your PS4 games on your PS5 – though don't take that as certain just yet.
There's talk that the PlayStation Now streaming service is in line for an update at the same time as the PlayStation 5 arrives, but as yet we're not sure everyone has the broadband capacity to stream 4K games into their living rooms.
Based on comments made by a former PlayStation boss, we're going to see physical discs remain part of the console experience for the next generation of hardware. According to the CEO of Ubisoft, we're going to see one more generation of traditional consoles before everything switches to the cloud.
However, considering that Sony is currently exploring and developing blockchain technology, a technology that has gaming applications, the PS5 could also usher in a new age of second hand digital game sales and trades. The idea that a gamer could lend or trade a digitally purchased game licence is really exciting to us here at T3, and could finally help the industry move on from physical media.