Sony has confirmed it is working on the next PlayStation.

PlayStation

PlayStation

The company's president Kenichiro Yoshida has admitted it has become "necessary" for the firm to look into the next generation of consoles, but stopped short of calling it PlayStation 5.

Speaking to the Financial Times: "At this point, what I can say is it's necessary to have a next-generation hardware."

Sources suggested to the newspaper that the device wouldn't be a big departure from its predecessor, and that its fundamental architecture would remin similar to the PS4.

The tease comes after Microsoft confirmed earilier this year that it is committed to the future of the Xbox.

The company's Executive President of Gaming Phil Spencer previously teased more consoles, and explained: "Anybody who might worry about our console future, I just wanted to put that at ease.

"I wanted people to know that I love the track record of our hardware team ... we have some ideas in the future [about streaming] but it's not tomorrow.

"I didn't want people to think we were going to walk away from that part of the brand in the business because it's really important to us."