Hold On To Your PS3: Sony Not Developing PS4 Yet

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For those of you hoping to see the next Playstation home console sometime soon, you’re going to have to wait a bit more: Sony’s not even thinking of the fourth iteration. In an interview with PC Watch, Sony Computer Entertainment President and Group CEO Kazuo Hirai said they’re still working on improving their last model, the still very relevant PS3.

“Every year, we reveal and release new features,” he said according to a translation by Kotaku. “That’s why, we’re not deliberating on a PS4 or a next generation machine, whatever you call it.”

Adding that Sony doesn’t believe the PS3 is at its full potential, Hirai said he hopes that the machine can have a life cycle of ten years. (The PS3 was released in 2006 so we’ve got a while to go.) Hirai added that the company is also focusing on their new handheld gaming device, the NGP, and on other offerings like the the Playstation phone Xperia Play.

Though some gamers have complained that the PS3 is lacks features they want like cross-game video chat, you have to admit the Blu-Ray quality images, lower fail rate and free online gaming make the console one of the top machines out there today.  Do you think Sony is right in waiting a few more years to develop the next generation or do you think there’s a need for the Playstation 4 now?

More on TIME.com:

Sony Bans Jailbroken PS3s From PlayStation Network

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