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PlayStation 5 release date, news, specs rumors: PS5 to come to the market 2018?

A Sony PlayStation 4 Pro is displayed during a launch event in New York City, U.S., September 7, 2016. | REUTERS/Brendan McDermid

As of now, Playstation enthusiasts are waiting for the release of the Playstation 4 Pro, but others are already waiting for the next Sony gaming console, the Playstation 5. Rumors suggest that the device may be coming out in the latter half of 2018.

Wall Street Journal tech correspondent Takashi Mochizuki said that a prediction by Damian Thong about the PS5 may prove to be correct, as he also correctly predicted the release of the PS4 Slim and PS4 Pro.

As of now, all of the information can be considered as rumors since Sony's head of marketing and sales Jim Ryan said that their future consoles will depend on the performance of their mid-gen gaming systems and current technology trends. So, as of now, the fate of the Playstation 5 will depend on how well received the PS4 Pro will be.

The Playstation 4 Pro boasts of allowing 4K resolution gaming for its users, a feat the consoles before it have not been able to achieve. The online gaming community has been dominated by PC gamers claiming that they are a "master race" because the "console peasants" could not achieve 4K gaming. Surely the release of the PS4 Pro will even out the playing field.

As if the Playstation getting 4K wasn't enough, even Microsoft is working on a console, the upcoming Xbox Project Scorpio, that can natively run 4K.

The PS4 Pro will be running on an AMD Radeon graphics engine with 4.2 teraflops of speed. It will run on an octa-core Jaguar chipset provided by AMD as well. It will also have 1 TB of internal storage as well as 8GB of RAM.

Though the PS5 is still rumored to come out in the later half of 2018, the PS4 Pro is expected to come out this Nov. 10.