Sony officially confirms next-gen PlayStation

Sony has officially confirmed its next generation console.

The company has addressed plans for the PlayStation 5 following details being revealed last week, and Sony's latest earnings report reiterated the tech giant's plans.

The report notes that the gaming division has experienced an "increase in development expensed for the next generation console".

The revelation comes after PlayStation 4 lead syste architect Mark Cerny revealed details about the upcoming console before its official announcement.

As well as suggesting the upcoming system will be backwards compatible, it was noted that it will accept physical discs rather than being all-digital, and games will be released for both PS4 and its successor.

Cerny focused on the gritty details of the planned console rather than any wider information or plans, but he did confirm that Sony's current VR headset would be support.

He added: "I won't go into the details of our VR strategy ... beyond saying that VR is very important to us and that the current PSVR headset is compatible with the new console."