The PlayStation 5 is launching by the end of 2020.
Sony's next generation console has been officially announced, and the company has confirmed both the name and that it will launch by "Holiday 2020".
In a blog post Jim Ryan - the president and CEO of Sony Interactive Entertainment - said: "Since we originally unveiled our next-generation console in April, we know that there's been a lot of excitement and interest in hearing more about what the future of games will bring.
"Today I'm proud to share that our next-generation console will be called PlayStation 5, and we'll be launching in time for Holiday 2020."
Meanwhile, the PS5 controller is getting a revamp, with the first innovation set to be haptic feedback to replace the long-running 'rumble' technology.
He explained: "With haptics, you truly feel a broader range of feedback, so crashing into a wall in a race car feels much different than making a tackle on the football field.
"You can even get a sense for a variety of textures when running through fields of grass or plodding through mud."
Meanwhile, the controller's trigger buttons will feature 'adaptive triggers'.
Addressing the development, Ryan said: "Developers can program the resistance of the triggers so that you feel the tactile sensation of drawing a bow and arrow or accelerating an off-road vehicle through rocky terrain.
"In combination with the haptics, this can produce a powerful experience that better simulates various actions."