Sony which released its Playstation4 in 2013, has had a huge success with the videogame console. According to a website 'Twinfinte', Sony is believed to have sold over 25 million units in less than a period of two years. This figure is way ahead of what it managed to achieve by selling PlayStation2.

It is believed that Sony is planning to launch its next version by 2020. Another website, ps5playstation5 confirmed the following news that Sony may launch its next version somewhere around Nov. 2020 or even before. This is based on their research and analysis of trends and gaps between previous launches.

Generally, Sony maintains a gap of six years in between two releases of versions. Sony launched its first ever version back in the year 1994, followed by the next after a gap of six years, until the latest one launched in the year 2013.

There has been lot of enquiries about the new PlayStation:

"If they (consumers) still feel that we need more machine power - 'we want to realize this and that and that, but we cannot do it with the PS4' - there's a good reason to have the PS5 so developers can create their vision," said Sony boss Shuhei Yoshida.

Shuhei hinted on having PlayStation 5 developed soon, since the current hardware for PS3 is not designed to last longer. Therefore, the demand for a new version will be seen soon.

The Japanese electronic giant has been the constant innovator and game changer in the market.

"Very soon we'll start thinking about what we'll do next," Sony's software product development head Scott Rhode told MTV. "That's the culture at Sony. We always have to do something that's bigger and better than what's already been done."

Based on the pricing trends that we have seen so far, it estimated that Sony may price the new version at around £400, the equivalent of appro $800.

Despite its popular products and gandgets, Sony faces a stiff competition from Microsoft's X-box, as both are continuously developing consoles, hardware designs, connectivity and compatibility.