Reports remain scarce regarding the release of the next-generation gaming platforms from Sony and Microsoft, but several speculations claim that the release dates of both PlayStation 5 and Xbox Two are coming in two years.

Lisa Su, CEO of American semiconductor company AMD, said during the recently concluded Consumer Electronics Show that both company are expected to run a five- to seven-year cycle before releasing their next-generation gaming platforms.

"The consoles work on a five to seven year strategy, that's the lifetime for these consoles. Without talking about any particular party's console; there will be opportunities to cost-reduce," Su said.

The AMD CEO also mentioned talks about the companies' aim to sell more units of their present gaming platforms being the reason why they chose to offer PlayStation 4 and Xbox One at reduced prices in line with the recent price drops. She said that "consoles tend to be very sensitive to price point, we see that as price comes down console [sales] volume goes up, and that will afford an opportunity to do that in this cycle."

This means that the price reduction in both gaming platforms has nothing to do with the release of their successors.

Meanwhile, there are reports claiming that Sony is planning to make the PlayStation 5 disc-less.

According to a speculation reported by Alphr, the next-generation PlayStation 5 will be more space-saving and more compact compared to PlayStation 4 or even the Nintendo Wii U. This contradicts past rumors saying that the future device will come with an OLED screen or could be made of glass.

The report also mentioned that there could be a chance to see the next PlayStation product as an app that can be downloadable using the PlayStation 4.

Meanwhile, reports about the possible specs of Xbox Two continue to be very limited at the moment.