Sony has let it slip, in a conference call, that it is working on a new console – which will more than likely be called Playstation 4.
While nothing has been officially announced on the console, Sony's executive vice president and chief financial officer Masaru Kato let the cat out of the bag during a conference call.
When asked to explain the sudden rise in the company's expenditure on research and development Kato explained that the PS3 "still has a product life." But did concede that "development work is already under way way [on the PS4], so the costs are incurred there."
Unfortunately we’re no closer to knowing when we might actually see the new console as Kato refused to give any further details on the project, stating that he couldn't discuss any details of the platform.
All three major consoles makers seem to have burst into life after Nintendo announced that they would unveil their successor to do the Wii at next months E3. Sony has now shown its hand - now it's Microsoft turn, although Microsoft has continually stated that they're aren't ready for a new console. But with Ninty and Sony making moves, don't be surprised if they start making significant moves sooner rather than later.
With Sony’s reputation damaged by the recent security breach of its PlayStation Network and Sony Online Entertainment services, which saw millions of users’ credit card details downloaded by attackers – it will have to ensure the development of the new console goes as smooth as possible.
Speaking to investors, he said: “It is no longer thinkable to have a huge initial financial investment like that of the PS3.”
It was only with the launch of the PS3 Slim that Sony could actually count on making a profit with its next-gen games console.