This came to light by known Rockstar insider Tez2 (via GTA Forums), who responded to whether a GTA 6 bundle with a new PS5 Slim could release in the near future. This then prompted the claim that: "Most AAA studios should have received the dev kits of mid-life upgrades or should receive them by the start of new year".
Both Sony and Microsoft have a history of releasing upgrades a few years into their console's lifecycles. In fact, during the last generation, the PS4 launched in November 2013 before receiving a slim model in September 2016 and a PS4 Pro in November 2016.
Likewise, the Xbox One was released in November 2013 and then followed by the Xbox One S in August 2016, the Xbox One X in November 2017 and finally, the Xbox One S All-Digital Edition in May 2019. As the PS5 and Xbox Series X/S hit retailers in November 2020, a 2023 release date would fit the timescale shown here. That said, a global pandemic happened, likely pushing things back. With this in mind, a 2024 release window seems more probable, however, that's purely speculation.
The first report of a new PS5 and Xbox model being in development was made earlier this year by Chinese electronics company TCL. The company stated the supposed existence of the consoles during a presentation, where it was mentioned that both will feature 8K support and 120hz capabilities. A 2023/2024 release date was further noted.
In the meantime, Sony is poised to launch its PSVR 2 headset in early 2023 and will additionally begin to ship God of War Ragnarok PS5 bundles in November this year. Microsoft, on the other hand, has been teasing a new streaming-only console with Xbox chief Phil Spencer posting an image to social media that fuelled speculation.
Still looking for a PS5? Head to T3's PS5 restock tracker for the latest details and how to get one before the chaos of Black Friday.