Both the Xbox One and the PlayStation 4 have been just a little over two years in the market today, but reports are now talking about the release of the Xbox Two and PlayStation 5.

While details from both Microsoft and Sony regarding their next-generation gaming platform devices remain under wraps, several speculations about the Xbox Two and PlayStation 5 keep players interested to learn more about the possible release dates and specs of the rumored products.

In a statement by AMD Senior Vice President and CFO Devinder Kumar during the Bank of America Merrill Lynch Global Technology Conference in 2014, he hinted that an early release of the Xbox Two or PlayStation 5 should be expected.

"The life cycle of the products are probably going to be shorter," Kumar explained. "Our customers are already thinking about what comes next. These are long life cycle products and as you know in the semi-custom space, you start with — three years before you introduce a product, a decision is made to use a particular company."

He also hinted at the devices' improved features. "It's not just, continuing just with the game console in the next generation, what do you do, but the aperture, I guess is increasing," the executive from the semiconductor manufacturing company predicted. "And the engagement with the customers is very active across many different areas."

This prediction is not far from the truth since the current gaming technologies are gearing up to incorporate virtual reality features that will be compatible with different VR devices that are coming out in the market today. These include the PlayStation VR and the Oculus Rift, among others.

Rumors are now claiming that the PlayStation 5 could possibly come out in 2017 or 2018. But since it took several years before Microsoft and Sony released their current-gen gaming platforms, gamers should expect to see the products in the market after several years, too.