Surprising no one, we’ve learned Sony is most likely working on their next generation home gaming console.

The news comes via Sony president and CEO Kenichiro Yoshida, who suggested the company most likely has to make another home console.

“At this point, what I can say is it’s necessary to have a next-generation hardware,” Yoshida said in an interview with Financial Times. It’s worth pointing out that Yoshida declined to actually name the console “PlayStation 5,” but this is the first official confirmation the company is planning it.

To clarify, Yoshida’s responses came after a discussion as to how Sony will combat the rising popularity of smartphone games on the market, and the changing habits of consumers, as well as how their own studios are changing to prepare for a PlayStation 4 successor on the global market.

Financial times also reiterated a rumor that Sony might be preparing a tablet device that would connect to various other devices, with the outlet noting “online streaming of games becomes more widespread” and that Sony “seeks to derive ever greater synergies between its games and movie divisions.”

The outlet also cited “people in the games publishing industry with knowledge of Sony’s plans for a future console” and said early signs pointed to the next console having similar architecture to the PlayStation 4, and not be a massive change in hardware.

What are you hoping for with the next PlayStation console? Sound off in the comments below!