The console will be backward-compatible with PS4 games, as it is partly based on the PS4's architecture.
AMD is returning with a custom chip at the console's heart, which will include ray-tracing and 3D audio features. The next-generation console will also have a solid-state drive (SSD) to drastically decrease loading times.
- "To demonstrate, Cerny fires up a PS4 Pro playing Spider-Man, a 2018 PS4 exclusive that he worked on alongside Insomniac Games".
Mark Cerny confirmed that the PS5 will not be released in 2019. He did not offer any details of a next-gen PSVR experience but did say that "VR is very important to [Sony] and that the current PSVR headset is compatible with the new console".
Sony won't be at E3 in June this year and AMD's earnings release is scheduled for April 24, so it's probably not surprising that Sony chose to provide us with some details now. Wired described a demo with Marvel's Spider-Man that took only 0.8 seconds on an early version of the PS5 compared to 15 seconds on a PS4.
That's an impressive package, and it will be interesting to see when and how Microsoft meets that challenge with its next generation console (Nintendo will always be off doing its own thing and being Nintendo).
I'm not sure what would have changed Sony's mind on that topic - I would assume it was planning to build the console on the PS4 architecture already, and justified the extra work by predicting good publicity. Although the console will support 8K, displaying at this resolution will be dependant on TVs catching up. It's possible Sony itself has not yet made a final decision; the platform holder could always sell the box at a loss if it believes it to be necessary, which would mean a cheaper price.
Sony did not announce any performance specs or talk about their next generation services like online play or game streaming offerings but with the baseline hardware announced, the next thing on the agenda should be how the company plans to differentiate its offering with unique IP and services.
This statement was further verified by various US, European, and Japanese developers, with some discontented with the shift. Read the full report at Wired.