There could be some bad news for PlayStation Vita fans as Sony recently announced that the PS Vita 2 may not likely come for now while the PS5 is slated to be released in 2020.

ModVive said that Sony Computer Entertainment Worldwide president Shuhei Yoshida made the revelation noting that the PS Vita is facing great competition in mobile phones.

"People have mobile phones and it's so easy to play games on smartphones; and many games on smartphones are free, or free to start. I hope, like many of you, that this culture of playing portable games continues but the climate is not healthy for now because of the huge dominance of mobile gaming," Yoshida was quoted by ModVive as saying.

He added that he is a big fan of Vita and noted that the developing team works hard to make sure every aspect is great.

"Touch-based games are fun - there are many games with really good design. But having sticks and buttons make things totally different," Yoshida added.

According to IGN, Sony has reportedly "scaled back" its investment on the Vita for the past years and has not made any developments on titles for the gaming console. But it noted that the company is set to release an PS Vita Aqua Blue model come November in the United States.

It was noted by EuroGamer that the PlayStation Vita was launched four years ago in Japan and in Europe in February 2012.

"The handheld continues to sell fairly well in Japan, although sales elsewhere in the world have slowed to a trickle," added the same report.

On the other hand, the PS5 is believed to be available by Winter 2020 as per PS5Playstation5.com basing from the trend of previous releases.

TechRadar said that PlayStation fans and users are now excited on what the next generation console will look like.

"What's most interesting is whether it'll be the big component packed box we've grown accustomed to heating our living rooms, a palm sized streaming device or an invisible power ever present on our televisions or even iPhones and iPads," added the same report.

It was also noted that fans could even expect the possibility that the PS5 may be as cheap as $50 and not as costly as $400 since it will just will "stream content from the great PlayStation publishing cloud in the sky."

The future of gaming, as per TechRadar, would mean cheaper but better games since there are endless possibilities that current technology offers.