UPDATE: Sony Confirms It Is Working on the Next PlayStation, Rumored to Be Portable

UPDATE: According to an article by the Financial Times:  ”…Sony might be planning a tablet that would connect to multiple devices as online streaming of games becomes more widespread and the company seeks to derive ever greater synergies between its games and movie divisions.”

After announcing plans to bring back the PlayStation 1Sony has now officially confirmed that it is working on the successor to the PlayStation 4, although it didn’t label it the PlayStation 5. Currently, details on the new console are scarce, although Sony’s Kenichiro Yoshida revealed that “it’s necessary to have a next-generation hardware” in a recent interview.

According to sources who spoke to Financial Times, the next-generation PlayStation may be fairly similar to the PlayStation 4: “early indications were that it might not represent a major departure from the PS4, and that the fundamental architecture would be similar.” The PlayStation 4 is still selling well for Sony, five years after it made its first appearance.

Previous rumors about the PS5 have indicated that it may feature backward compatibility and portable gaming.