PlayStation 4 development 'under way'

[Hanamaru Kunikida]

Following its annual earnings report this morning, Sony has confirmed it is working on a successor to the PlayStation 3. In a post-report conference call, Sony executive vice president and chief financial officer Masaru Kato was queried about an increase in research and development costs for the company.

Work on the next PlayStation is already under way.

When asked what the "major driver" of R&D costs was, Kato said--via a translator--that one was "prototype research work, development work during the current fiscal year in [the] game segment."
He continued, "We have a portable NGP to be launched later this year, so we have development expenses to be incurred for this product and for the home equipment. The PS3 still has a product life, but this is a platform business, so for the future platform--when we'll be introducing what product I cannot discuss that--but our development work is already under way, so the costs are incurred there." (Emphasis added.)

Source:http://www.gamespot.com/news/6315511...ll%3Btitle%3B3

Well, this is the beginning of the next-gen era...

But was concerns me is that even with this, they are still planning for a PS4.

I also understand why the Wii has to move on as it's outdated but both Xbox 360 and PS3 have a lot of life yet and considering there quite a few games releasing for it as well.