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Masaru Kato CFO of Sony Entertainment

According to Sony, the Playstation 4 might well already be under development and it looks like they will be dialling it back a notch on ambitious hardware advancement, which ultimately cost Sony so much money in the early life of the current console.

Sony spoke to investors shortly after announcing that they had lost approximately $3.1 billion dollars over the course of the past fiscal year. Despite the overall company’s staggering losses, the video game division posted a profit of $435 million during the same fiscal year. CFO and executive president of Sony, Masaru Kato, revealed that a portion of their research and development costs will be utilised on a brand-new home gaming console.

“The PS3 still has product life, but this is a platform business,” he said. “So for the future platform, when will we introduce it? What product? I can not discuss that. But development work is already underway.”

Source: Gamrfeed