Sony has unveiled the logo for the PS5.

PlayStation 4

PlayStation 4

The next-gen console is set to be released at the end of 2020 in time for the holiday season, and on Monday (06.01.20) the firm unveiled the new branding for the hotly-anticipated device, which is not much different to its predecessors, bar the number five.

Meanwhile, the firm has announced that they have sold more than five million of their PSVR headsets worldwide.

It was recently claimed the PS5 will likely have a lifespan of "six to seven years".

Sony's Masayasu Ito said that he believes the console will be around until around 2025 to 2026.

And the Executive Vice President of Sony Interactive Entertainment also hinted that a PS5 Pro could be on the cards.

He explained: "in the past, the cycle for a new platform was 7 to 10 years, but in view of the very rapid development and evolution of technology, it's really a six to seven year platform cycle.

"We cannot fully catch up with the rapid development of the technology, therefore our thinking is that as far as a platform is concerned for the PS5, it's a cycle of maybe six to seven years."

He added that "we should be able to change the hardware itself and try to incorporate advancements in technology.

"That was the thinking behind it, and the test case of that thinking was the PS4 Pro that launched in the midway of the PS4 launch cycle."

The PlayStation 4 was recently named the world's second best-selling console.

Sony announced in October that the PS4 had shipped 102.8 million units worldwide, behind their own PlayStation 2.

Meanwhile, a Sony job advert posted claimed the PlayStation 5 will be the "world's fastest" console.

The tech giant put out a notice for a Senior Cloud Engineering Manager, and the job advert included some major statements about the upcoming console, which will be released around the same time as the Xbox Scarlett.

The list stated that the person will be part of the team "to build next generation cloud infrastructure", and also "be one of the leaders of an elite team that is super excited to launch the upcoming world's fastest console (PS5) in 2020."