Sony talked about its next generation gaming console during the company's Corporate Strategy Meeting FY2019.

The company descibed the PS5 as an "Immersive experience created by dramatically increased graphics rendering speeds, achieved through the employment of further improved computational power and a customized ultra-fast, broadband SSD."

The Japanese company also showed a video to showcase the difference between the performance of the PS4 Pro and the next generation PS5. Two screens side by side load the Spiderman PS4 game along with a timer. The screen labeled as PS4 Pro loads the game in 08.10 seconds while the screen named “Next Generation (under development)” loads the Spiderman game in 00.83 seconds. This puts the PlayStation 5 official load time vastly ahead of the PS4.

The PlayStation 5 will feature a third Gen Ryzen CPU coupled with AMD Navi GPU capable of up to 8K video playbacks. The PS5 specs also include a backward compatibility feature, 3D surround sound, and physical disc.

Sony also said that through the evolution of “Remote Play” and PlayStation Now,” the company will provide "a seamless game experience anytime, anywhere."

The PS5 will come with remote play, which lets users play console games from their phones, tablets and PCs. It seems to be Sony’s answer to the Nintendo Switch, which lets users play games away from a TV. Remote Play also turns the PlayStation 4 (PS4) into a streaming game server, providing streaming content at the closest point to users.

PlayStation Now also ready provides game experiences to users regardless of whether they own a PS4 console at all. Sony said it would pursue its mission to make PlayStation “The Best Place to Play” by leveraging "the latest computing, streaming, cloud, and 5G technologies, together with excellent content." As part of these efforts, Sony agreed to a memorandum of understanding (MOU) with Microsoft to collaborate on the development of cloud solutions, including game streaming services.

Sony CEO Yoshida highlighted problems with cloud gaming, including finding an appropriate business model. “For someone who plays a game for 50 or 100 hours, what is the advantage of a monthly subscription service?” he asked. Partnering with Microsoft could lower server costs for PlayStation Now, which currently runs on Sony’s servers.

Yoshida also announced he was increasing total capital expenditure to 1.2 trillion yen ($10.9 billion) from 1 trillion yen for the three years ending March 2021, driven mostly by investments in camera sensors. The boost comes even as a U.S. ban on doing business with Huawei is raising fears of a hit to already-shrinking smartphone demand. Sony generated 23% of its revenue from the U.S. and 9% in China, Yoshida said. The company also shed more light on its agreement with Microsoft to use its image sensors. Sony plans to embed artificial intelligence functionality within its chips. “Our signing of MOU with Microsoft is based on this approach,” Yoshida said.

Responding to pressure from investors to shutter or sell under-performing or non-core businesses such as the company's mobile business, Yoshida said the company and board will “look at our portfolio” but suggested that the mobile phone division isn’t on the selling block. “Smartphones are an entertainment product, but PCs are ultimately a productivity tool, which is why we sold that division,” he said. He stressed that finance and technology are a great fit as payments go digital. “I often tell my employees, especially in the tech division, what it means for Sony to have a finance division.”

Yoshida proclaimed Sony the largest music company in the world and said profits from streaming will keep rising. Its operating margin is expected to rise by 6.5 percentage points this fiscal year compared with 2017, it said. Sony will focus on expanding via local artists in China, a growth market. For film, the company mostly stuck to its prior message that more synergy means lower costs. The efforts are already saving about $135 million a year, it said.

Sony also announced a production team focused on turning video games into movies.