For a few years now, people in the gaming community has been talking about and speculating on when Sony will finally reveal the successor to the PlayStation 4. The Japanese Gaming company has been silent with regards to the topic, but Sony has now revealed that yes, they are already working on the next-generation PlayStation console.

In an interview with the Financial Times, Sony’s CEO Kenichiro Yoshida revealed that “At this point, what I can say is it’s necessary to have a next-generation hardware.” It’s not exactly surprising that Sony is already developing a new console, given that the PlayStation 4 has been in the market for five years now. If the company would stick to a consistent gap in-between systems, then players can expect the PlayStation 5, or whatever Sony decides to call it to release by 2019-2020.

Moreover, the FT reports that several sources explained that the upcoming console “might not represent a major departure from the PS4, and the fundamental architecture would be similar.” It could mean that Sony is not planning to compete with Nintendo’s hybrid console, and would rather stick to the traditional system that the PlayStation has been known for. Whatever form this new console may take, it is now only a matter of time before Sony gives us a peek of what it’s up to.