My bet is that PS5 is announced next year, in December, at their PSX event (that's why they've pulled out of E3 as they want time to get their ducks in a row). The unit will be unveiled and Mark Cerny will talk us through the new tech. I'm guessing it'll have 16GB GDDR5 RAM, a powerful AMD graphics chip-set (two or three times more powerful than Xbox One X, maybe?) and a 4K Blu-ray player. As a result, it will be more expensive than the PS4 at launch. We're probably looking at about $450/£399. This is all conjecture obviously, but with rumours of devs working on PS5 games, Sony must be close to finalising the specs for the PS5. It'll likely launch in late 2020/early 2021.