The gaming community has been buzzing around claiming that Sony is already working on the successor of the PS4. Speculations claim that the PlayStation 5 console will hit the market late in 2018.

It has been three years since the first PlayStation 4 hit the market, and with the release of the PlayStation Pro, Sony is able to maintain its dominance of the console gaming market. The rumor about the PlayStation 5 release date started to gain momentum after a report from Macquarie Research Analyst Damian Thong was published. According to Thong, the next-generation console will hit the market in the second half of 2018.

"While we have tempered expectations to account for rivalry with Microsoft/Xbox and PC gaming, we note that the success of PS VR highlights the health of the ecosystem," Published on the Barron's Asia blog as part of Thongs report."We expect Sony to launch a >10 TFLOPS 'PS5' in 2G18 to secure the installed base."

Not only that, Thong also wrote that the PlayStation 5 will be an extremely powerful piece of hardware with a 10TFLOP graphical power. This is way beyond the specs of the upcoming Scorpio console from Microsoft which is expected to debut later this year.

Many gamers agree that it is still too early to speculate about the future of the PlayStation console, especially now that the current-generation PlayStation 4 is still riding the euphoria of its success. According to PlayStation Universe, since its release, the PS4 is able to rack up more than 53 million units in sales which is more than half the figure of its closest rival, the Xbox One.

Despite interesting facts pointed out by some tech analysts about the PlayStation 5, it is important to take these speculations with a grain of salt, especially since Sony has kept its silence about it.

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