It’s considered inevitable that Sony will within the next 5 years launch a console to replace the PlayStation 3.
However, whenever asked, Sony insists that all its focus is still on the PlayStation 3, and more recently, the PlayStation Vita.
However, according to trusted industry source, Develop-Online, Sony Studios currently has a few projects that are in the early phases of development. Sony has a total of 16 first-party studios, although it is unknown how many, or which of them are currently working on PS4 games.
The smart money lately seems to be on Sony releasing a new console in 2014. If this is true, then it makes sense that its developers will now be going into the early stages of developing launch titles, giving them a development window of between two and three years.
Develop-Online has also published data which alleges that Microsoft is aiming to release a brand new console in 2013. This is a claim which has allegedly been confirmed by multiple different industry sources.

One of the many PS4 concept designs currently floating around the internet
Earlier this year SCE chairman Kaz Hirai said that Sony is not even “deliberating the PS4” at this point. However, it’s still in Sony’s best interests to keep our attention off the next generation of consoles and maintaining a focus on its current product line.
It still remains to be seen what direction Sony and Microsoft will take with their next generation of consoles. Although there is ample room to improve on the base performance and hardware capabilities of current generation consoles, either Sony or Microsoft may look to towards more innovative concepts.
Nintendo has been the first manufacturer to announce its next generation gaming platform with the WiiU; a console which will combine Nintendo’s innovative approach to hardware platform design with enough raw power to power games at HD ready resolutions.

Nintendo will once again employ a unique control device with the WiiU
Sony working on “PlayStation 4 projects” – report << Comments and views