Sony is working on PS4
Sony has hinted that they are indeed working on a PS4 but don't get excited just yet and expect an E3 2011 reveal, there is not even a prototype console ready (At least I hope not) so I guess Nintendo will be hogging the limelight after all with their Project Cafe
"For the home equipment the PS3 still has a product life," he said, "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."
Kato's comments are in direct contrast those of Sony Computer Entertainment boss Kaz Hirai's. Hirai said, three months ago in March, that "a near-future PS4 or next-generation home console is not something that we are even debating now".
When this console will be public is not known and you can definitely expect an E3 2012 reveal along with Microsoft's Next XBOX! Although you can definitely expect a Q3 / Q4 reveal of the next gen consoles for sure so don't let this news damper your enjoyment of your current gen console, you are still set for a great number of titles this year and the next 😀