• People play video games at the Sony Playstation stand at the Gamescom 2015 gaming trade fair during the media day on August 5, 2015 in Cologne, Germany.

People play video games at the Sony Playstation stand at the Gamescom 2015 gaming trade fair during the media day on August 5, 2015 in Cologne, Germany. (Photo : Getty Images/Sascha Schuermann)

Just two years after PlayStation rolled out; rumor mills have it that the next-gen flagship console from Sony, "PlayStation 5," may sport the most powerful specs ever in the company's history. Sony Worldwide Studios president Shuhei "Shu" Yoshida teased on the possibility of some talks for the next installment and allowed creators all the liberty to do as they please.

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"It's really up to the game creators. If they still feel that we need more machine power - 'We want to realize this and that and that, but we cannot do [it] with PS4' - if that's the case, there's a good reason to have PS5, so that developers can create their vision. So, we'll see," Yoshida stated in an interview with Recode during his appearance on "Revolutionaries" series for Computer History Museum in Mountain View, California.

With increased performance and graphics-based games emerging everywhere in the industry, some developers so it important for Sony to enter the upcoming market of virtual reality gaming with a redesigned new generation platform.

It is speculated that physical disc copies may become obsolete in the near future since gamers would want to save and load their progress using cloud storage, which is convenient. Gaming fans anticipate that this may occur if the pricing for PS Now will be fixed and become agreeable to subscribers and if online streaming for game downloads become the norm, Tech Radar reported.

Currently, there is no official confirmation about the console from Sony, and therefore, it remains to be seen if any of the expectations will come true. However, some gamers expect that the next setting may be equipped with DMI 2.0 connections and Ultra HD Blu-ray drive to allow for 4K video playback.

Meanwhile, PS4 is undergoing updates with larger editions featuring 1TB storage capacity, new versions with improved software and hardware like CUH-1200 to offer better sound and heat generation as well as to have more control in power usage.