Of course, these plans could always change. For comparison, the PS3 launched over six years following the PS2's release in 2000, though with the PS4 Pro having given the console's games a graphical and performance boost, its technology isn't notably outdated. Of those, two people said they were directly familiar with plans for Sony's new console.
The report comes in the wake of recently surfaced rumors that claimed Sony might release the PS5 this year. As per some reports from the web, the next generation PlayStation 5 might be rolled out this year.
So, it's quite obvious a PlayStation 5 is in an engineering phase, whatever that actually means in terms of when the console gets announced.
What about the PS4 Pro?
However, previous comments made by Microsoft's Senior Director of Xbox Console Marketing Albert Penello suggest that forward compatibility might happen for the Xbox One X. In that case, the most powerful console on the market by far with its 6 teraflops of computing power could become the new baseline for next-generation Xbox games (thus leaving behind the original Xbox One hardware) while an updated console launching in 2020 would take its place for the high-end console segment.
Kotaku's report added that the majority of developers they spoke to, including those at Sony's internal studios, had no knowledge at all of a new PlayStation console. At some point, Sony's probably looked at every possible date.
Last week, SemiAccurate claimed that Sony had shipped a large number of PS5 development kits to game developers. We chose to abstain from talking about it at the time because a PS5 launch in 2018 sounded laughable, particularly given that the PS4 Pro has only been out for around 18 months.
A PS5 development kit might be in the wild, however, it could be a "super early" development kit that are "often PCs with the CPU and GPU". Following that trend, and Schreier's investigation, the PlayStation 5 release date will likely be in 2020, at the earliest.
One interesting thing Schreier did learn is that most think the PlayStation 5 will run games that won't run on PlayStation 4 - another incremental, backwards compatible upgrade isn't expected.
Despite the launch of the PS4 taking place almost five years ago, iterative upgrades such as the PS4 Pro should ensure that this console cycle lasts longer than usual.