PlayStation 4 (PS4) is not considered an old game console, but there are already rumors pointing to the development of the next-generation console from Sony, the PlayStation 5 (PS5).

A game console like PS4 is estimated to last for about five years, and it would also take that long for a new console to be released. However, rumors about PS5 just keep on coming, especially during the time when Sony posted a job listing earlier this year for a senior game programmer to help the company with their "next generation gaming system."

While no official announcement has been given by the tech giant yet, rumors are swirling all over the web fueling the hype for the next PlayStation.

Rumors have it that the new PS5 will not take the form of a standard gaming console, but rather a streaming device. According to N4BB, the console, which could be the last console to be released, could come as a pocket-sized device that can be plugged into a TV to start with game streaming.

This coincides with the report from TechRadar, which previously mentioned that the next gaming console will not have the traditional component box that millions of gamers have come to love.

Earlier reports also mentioned that AMD is offering Sony new chips said to be five times faster than PS4's current chipsets.

If Sony continues to work with AMD with the new chipset, PS5 would offer 4K resolution and will also support virtual reality gaming, which should be mainstream by year 2020 — also a rumored release date for the console.

In the meantime, console aficionados should only take online reports with a grain of salt as nothing has been confirmed as of the moment. While a more powerful gaming console will undeniably enhance the gaming experience and would be every gamer's wish in the near future, rumors remain just that and nothing has been set on stone yet.