It appears that the PlayStation 4's life was set to come to an end sooner rather than later but the issues affecting the availability of PS5's - and most modern tech - have forced a change of plan.
The PS4 was set to be discontinued at the end of 2021 but plans are now delayed for at least another year. The shortage that has affected the PS5 - as well as Xbox Series X and other technology - is set to continue into late 2022.
PS5 Availability saves the PS4
This news broke thanks to Bloomberg who first reported - thanks to their sources - that PS4 development is set to continue. The PS5 debuted in November 2020 and has been near impossible to get hands-on at a reasonable price.
Resellers sold the console for ridiculous prices before the console was even released as pre-orders were transferred between customers. UK retailer CEX still sells the console for a ludicrous £650 and buys them for just £10 below RRP at £440.
According to their stock checker, there are over 40 consoles available between various West Midlands stores alone. It's no surprise that they may be slow to sell at the price they are charging.
Sony appears to be covering its tracks on the official front by claiming that production is set to continue and there are no plans to discontinue the console due to its status as one of the best-selling consoles ever.
After the recent announcement at CES, questions are being raised as to whether or not the resources being spent on PSVR 2 are worth porting over to make the PS5 more available. It's not currently known whether or not the chip component that's facing worldwide supply issues is involved in the production of PSVR 2.