The CFO of Sony Masaru Kato spilled the beans regarding the PlayStation 4 at a conference call with shareholders, confirms that it is in development.

playstation-3-game-console2

Masaru Kato said:

For the home equipment the PS3 still has a product life, but this is a platform business, so for the future platform – when we’ll be introducing what product I cannot discuss that – but our development work is already under way, so the costs are incurred there.

Keep in mind that there’s no time frame or any sort of details of the PlayStation 4 yet. SlashGear believes that the next gen PlayStation console could be at least “4 to 5 years away” before it hits the shelves. Sony also reported a huge annual loss of $3.1 billion, courtesy of the Japan earthquake and the PlayStation Network downtime.

Liked this post? Then follow us on Twitter or join our Facebook Fanpage for the latest updates! Or Subscribe to our RSS Feeds.

Follow the author of this post on Twitter by clicking this link.