Sony Corp's PlayStation 4 Console
A man plays a video game on Sony Corp's PlayStation 4 console at its showroom in Tokyo July 16, 2014. Reuters/Yuya Shino

The PlayStation 5 is among the most awaited game consoles of today, especially after its predecessor, the PS4, has been very successful since it was launched. No official release date has been provided by the tech company, but Sony Computer Entertainment’s executive vice president, Masayasu Ito, may have given a few hints that the console is actually already in the works, as reported in Cloud Wedge.

“I think there will be a PS5,” Ito told Japanese publication, Nikkei Keizai Shimbum, according to Venture Capital Post. “However, I do not know what form it will have. It could be a physical console, or it could be in the cloud.”

It would appear that the release of the PS5 might coincide with the company’s ongoing efforts of building up the hype that surrounds its currently existing, yet relatively new, cloud gaming platform, called PlayStation Now.

With the console’s official date of launch still unclear, with certain online news sources saying it will be out in 2017, while others are quite adamant in stating that 2018 would be the most ideal time to make the release, hardcore gaming enthusiasts only have Ito’s statements to get by. However, whether the unit will be a physical console, placed in Sony’s gaming cloud, or both will still have to be determined.

It must be noted, however, that Sony’s main rival in the gaming industry, Microsoft, has already made some key developments in their cloud gaming arena last year. For instance, just last August, a separate article from Cloud Wedge has pointed out that Microsoft’s research team has come up with a solution to the cloud gaming lag.

Sony gamers, on the other hand, are expecting the company to come up with a definite answer regarding the PS5 when Paris Gamesweek begins in October, especially since it has already been confirmed that they will not be holding a press conference at the upcoming E3 event and at August’s Gamescon.

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