Industry insiders report Sony is developing the PlayStation 4 console and several accompanying video games.
"Various game projects are at the very early stages, though didn’t reveal which of Sony’s sixteen first-party studios had been delegated the work," said sources to news website Develop.
Speculations indicate new titles could possibly include a new “Gran Turismo,” “Grand Theft Auto,” “Killzone 4,” “NBA 2K,” and “Uncharted 4.”
Gaming Analyst Colin Sebastian expects the PlayStation 4 to release between 2013 and 2014; however, Sony has not made any official announcements to the public regarding the creation or release of its next generation console.
Insiders suggest the release of the PlayStation 4 and other proposed consoles, such as the Xbox 720 and Wii U, will garner the last spark of demand for such gaming platforms.
"If Sony and Microsoft did the PlayStation 4 and Xbox 720, they would completely blow mobiles out of the water, and that's good if you want to make those big experiences," said David Helgason and Nicholas Francis, cofounders of Unity Technologies, in a statement.
Francis proposed home consoles might survive for one more console generation, "and then that will be it."
“Having something that's much more powerful than an Xbox in my cell-phone? What am I going to do with that? It's a small screen, I'm playing on the bus, everything is shaking, there's light coming in,” the cofounders added.
However, many developers are committed to supplying the home gaming systems.
Naughty Dog, the creator of the widely popular "Uncharted" series, was quoted as saying that it would continue to make "Uncharted" games as long as there is a demand for them.
“There are a ton of Drake adventures out there and we haven’t told all of them yet, and as long as fans want the games and as long as we find something that’s interesting and will push the medium forward, we'll continue to make them," said Naughty Dog Game Director Justin Richmond to PlayStation Magazine.