The PS4 has unleashed on the market almost five years ago, becoming a hit among many gamers. Over 100 million units have been sold, a feat which renders the device the second best-selling video games console in the world, with the PS2 remaining the undisputed king. The console holds a significant chunk on the market, and Sony plans to keep it relevant for a long time, even if the company is hard at work on the development of the PS5. Possible release date The internet is filled with speculation about a possible release date for the PS5. In 2018 the CEO of Sony Interactive Entertainment stated that three years would be pass before the next major update. However, it is thought that both the PS5 and Xbox Scarlett will be released during the 2020 holiday season. As high-profile developers have started to announce next-gen titles it seems that the release date could be closer. Power to the people Several sources anticipate that the PS5 will be more powerful than the PS4 and the PS4 Pro. While more power is a must, the company also has to pay attention to the balance between specs and cost. Many third-party developers published gamers and ports for the console, a fact which cemented the reputation and contributed to the popularity of the device. Beefy specs The exact specs of the device remain a mystery, but a few details are available. An eight-core AMD Zen CPU will be paired with a high-performance GPU based on the upcoming Navi architecture. Developer kits are already available for select video games studios, and leaked images show an interesting design as several cooling vents are visible. And advanced SSD solution should provide a generous amount of storage space while also boosting overall performance by reducing loading times. Price tag The price remains elusive for now, but it is likely that it will be similar to the one of the PS4 Pro or the Xbox One X.