Sony's PlayStation 5 launch isn't until May 2020 at the earliest

Don't expect to see a PS5 on the shelves before April 2020

Don't expect to see a PS5 on the shelves before April 2020

Analysts widely expect Sony to launch a next-generation console in 2020 to supplement slowing sales of the five-year old PS4, but the lucrative business could face tough competition with new video game streaming services from Alphabet's Google and Apple.

Sony will further discuss its vision for PlayStation's place in the cloud gaming space in May, at the company's Corporate Strategy Meeting and IR Day. Unlike Sony, Microsoft will be attending E3 this year and as such, could launch more than one Xbox consoles, if rumours are to be believed. Sony announced PS4 sold nearly 100 million units so far.

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Of course, gaming is not the only egg in Sony's basket. Ray-tracing and 8K will also be supported on the next-generation PlayStation console. He went on to say that Sony is planning to reveal the PS5 in the second half, possibly the last quarter of 2020.

Sony got a gain for its stake in Spotify, which was publicly listed in April a year ago. This includes an increase in the number of people subscribed to PlayStation Now, with numbers increasing by 40% to over 700,000 users. The Nintendo DS is sitting right behind the PlayStation 2 at 154.02 million units sold, with the Game Boy/Game Boy Color coming in third with a combined 118.69 million sales. While an official launch date has yet to be confirmed, Sony recently stated that its next-gen PlayStation won't launch "over [the] next 12 months".

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Sony Corp warned of a sharper-than-expected drop in its annual profit and scrapped some longer-term targets, in a sign a slowdown in its gaming business as its PlayStation 4 console nears the end of its life was beginning to hurt.

Sony confirmed that lifetime sales of the PlayStation 4 console had now reached 96.8 million.

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For FY 2019, Sony expects to ship 16 million PS4s, a million-and-a-half decrease of its prediction from FY 2018, with ¥2300 billion ($20.90 billion) in revenue and ¥280 billion ($2.55 billion) in operating profit for its games and services division.

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