Game console and pad

Sony is developing a new video games console, the company’s president Kenichiro Yoshida has confirmed.

He told the Financial Times that “it’s necessary to have a next-generation hardware”.

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However, he declined to say whether the successor would be branded the PlayStation 5, the newspaper added.

The announcement comes at a time when Sony and other tech firms have been experimenting with streaming games from remote servers as an alternative.

The Japanese company allows titles on its cloud-based PlayStation Now service to be played via PCs, and at one time also provided access to some TVs and Blu-ray players.

Microsoft has just announced Project xCloud, which will allow Xbox One games to be played on smartphones and tablets.

The processing is carried out on servers operated by the firm’s Azure cloud computing division.

It has said public trials were scheduled to start next year.