Near the end of their E3 press conference, Microsoft unveiled their next-generation Xbox: Project Scarlett. Sony, however, weren't present at the recent gaming event and we therefore found out nothing about the PlayStation 5.
Microsoft mentioned that Project Scarlett will be commercially available come Holiday 2020. So it's release will likely take place at some point in November. With the release of the PlayStation 4 and Xbox One in mind; many have assumed that the next-generation PlayStation console will similarly see the light of day around the same time.
A new report by the
Wall Street Journal supposes that this will in fact be the case. The release window of Holiday 2020 is backed up by countless industry analysts. However, a few analysts believe it could arrive in 2021. The report provides no further details than that.
The PlayStation 4 and Xbox One consoles released in November of 2013, only a week's time apart. So there's precedent for Microsoft and Sony to release their systems concurrently.
The Xbox 360 and PlayStation 3 released just over a year's time apart - back in 2005 and 2006 respectively. However, it's unlikely Sony would want to risk repeating the poor performance of the PlayStation 3 (especially when compared with the PlayStation 4). Therefore, releasing the PlayStation 5 alongside Project Scarlett would make the most sense.