However, in recent times, Microsoft has no doubt been winning the next-gen war, having provided the community with regular updates and the full specs for Xbox Series X.
Well, that could all change, as word on the street is that the PS5 will be revealed tomorrow!
Most importantly, we'll cover how the specs could stack up compared to the new Xbox.
Continue reading for all the details we have.
Official PS5 logo revealed at CES!
The PS5 logo has finally been officially revealed and you won't be shocked at its look...
That's right, the logo looks exactly the same as the PS4 logo except with the number 5.
Despite the anticlimactic announcement, the reveal has got fans seriously hyped for the next-gen console with fans hungry for any information they can get their eyes on.
PS5 release date
START YOUR ENGINES: The PS5 will go head-to-head with the new Xbox in November 2020
Here, you can sign up and they'll let you know the second the PS5 will be available to pre-order. Worth a punt if you ask us.
That's a similar price to what the Xbox Series X should retail for - around the £400 mark.
We don't know a huge amount about what's under the PS5's hood, but what we do know is that it'll be significantly more powerful than the PS4 Pro.
It'll likely support Ray Tracing, an advanced lighting technique that is already a feature in some state-of-the-art Nvidia graphics cards.
Add to this rumoured 8K support, and a bespoke SSD drive - which will be up to 19 times faster than traditional SSD storage methods, and you've got yourself a very powerful console indeed.
Another trick is that players will be able to install / remove certain parts of the game - much like on PC. So, if you only want to install single-player, that'll be doable.
Xbox 2020 specs
The new Xbox will boast far more than the six teraflops currently
inside Microsoft's flagship gaming console, the Xbox One X.
Although some have speculated that the console will be 8K ready, we doubt it'll have the raw power to run this natively.
Instead, it'll likely use a solution much like PS4 Pro's checkerboard rendering / Nvidia's Deep Learning Super Sampling (DLSS)- upscaling an image from 1880p to higher resolutions allowing for higher framerates.
Rumoured PS5 games
There will be a lot of big exclusives coming to Sony's console - from the new God of War to a perhaps a brand new Killzone.
This was Sony’s answer to Halo and Gears of War - but is seen by having plenty of style but not much substance.
LOOKS FAMILIAR: Where do you think Guerilla Games got the inspo for Killzone?
Both Killzone on the PS2 and Killzone 2 / 3 on the PS3 acted as showcases, pushing the consoles to the limits of what they can achieve graphically.
Should we see another Killzone, expect more of the same.
Recently, we’ve had the pleasure of four Crash Bandicoot games being remastered.
WHOA! We all want more Crash on PS5
It was a great trip down memory lane and remasters seem to be all the rage lately so wouldn’t it be a great way to launch a new Sony console than with its most recognised mascot?
PlayStation still gets preferential treatment with Crash titles, in particular, the Crash Bandicoot N’Sane Trilogy, so it wouldn’t be out of the question.
The Last Of Us 2 Remastered
The Last of Us 2 is scheduled to release on PlayStation 4, but it was recently announced that it will be delayed until the 29th May.
THE FIRST ON PS5? It looks likely that the Naughty Dog title will appear on PS5
There's every chance the game will come out on the PS5, too - albeit with slightly improved performance and visuals. Not confirmed, but watch this space.
There are few games with a better track record than the Uncharted series, it’s undoubtedly one of Sony's most valuable gaming franchises.
DOUBLING UP: Naughty Dog could have two big hitters on PS5
We're almost certain a new Uncharted will arrive - but we'll have to wait a few years as Naughty Dog is tied up with TLOU2.
Horizon Zero Dawn 2
Guerilla Games’ action-RPG released in 2017 and was loved by critics and fans alike
A NEW DAWN: A sequel is on the way, but it may be a while away
Having sold over 10 million copies, Guerilla Games have already confirmed a sequel is on the way. However, as the original took six years to make, we may be waiting a while.
God of War II
ONLY A MATTER OF TIME: Immensely popular and bespoke to Sony, it's a question of when not if
After a hiatus of five years, which doesn’t include the remasters, the God of War franchise was rebooted following Norse mythology.
It was nothing short of perfection and appetite for a sequel is growing by the day.
Little Big Planet 4
The Little Big Planet series has sold more than 10 million user-created levels.
GOING BIG: One of the most classic PS titles must surely return
There's clearly an appetite for the series, so we can expect Sony to give it the next-gen treatment pronto.
Spider-Man 2 Game
The new Spider-Man game was brilliant - and another game worthy of a sequel.
PEACE OUT: The Marvel character provided us with one of the most popular games on PS4
The previous game took 4 years to develop, but as gameplay mechanics won't need too much tweaking, we're hoping Spidey will return to our screens in 2021.
That's all we have for now, but check back in for our weekly updates.