Sony is still up with new upcoming projects after hitting by several hacking attacks on its products and services, recent report says, Sony has huge annual loss of 3.1$ billion because the courtesy of several hacking attacks and downtimes of PlayStation Network. But still Sony is up and comes with good news for gaming freaks, CFO of Sony; Masaru Kato has just confirmed that PlayStation 4 is in the work at the conference call with shareholders.

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.

It’s highly suggested to note that there is not a time frame given by Sony for the release of PlayStation 4 yet. But Slashgear folks believe that next generation of PlayStation 4 may come with in next 4 to 5 years, not this year or next year.