According to the latest rumors, Sony is now in the planning stage for its next-generation PlayStation console. Dubbed as the PlayStation 5, the console is expected to put an end to the reign of the PS4. Still, the Japanese company has yet to confirm its plans for the PlayStation's future. For those who are hoping to see the PlayStation 5 soon, they may need to be more patient as the console's development could take up to 2020.

PlayStation fans are expecting that Sony will introduce a brand new PlayStation console very soon, as almost five years have passed since the company launched the PlayStation 4. In spite of Sony remaining silent about the next-gen console, the public feels like the PS5 will see the light of day in just a matter of months.

However, it is worth noting that it took seven years for Sony to release the PS4 console after the PS3 launch in 2006. Thus, the much-awaited PlayStation 5 launch will happen in 2020, contrary to earlier speculations that the console would make a surprise appearance this year, according to Kotaku.

Kotaku's sources, who claim to be familiar with Sony's internal operations, said that the public should not expect the PlayStation 5 arriving as early as 2019, moreso this year. At this point, the most likely scenario would be Sony announcing the PS4 successor sometime in 2020, or possibly later than that.

However, the insider sources also suggest that Sony's timetable for the next-gen PlayStation console launch varies often. The company's plans always change from time to time as Sony depends on the public's demand. If Sony thinks that releasing a new hardware soon will rake in more profit, the company could adjust the schedule and have an earlier launch.

Also, the PlayStation 5 could arrive earlier than 2020 if Sony's competitor in the gaming department, Microsoft, decides to launch a next-gen Xbox console sooner.

A separate report has surfaced recently that point to a surprise appearance of the PlayStation 5 this year. It was tipped that Sony's next-gen console will boast a custom AMD video card, based on the new Navi architecture. However, with lack of definite information from manufacturers, it is strongly advised to take this report with a grain of salt.