There are speculations that Sony and Microsoft may still be developing the PlayStation 5 and Xbox Two, respectively. Some believe, though, that PS4 and Xbox One will be the last of the dedicated games consoles.

According to The Guardian, Twitch TV boss Emmett Shear predicted last year at the Changing Media Summit in London that these machines may need to change form. Moreover, their long life cycles are not at par with the rest of the consumer technology industry.

"The problem is, the seven-year upgrade lifecycle doesn't work in the face of the two-year upgrade cycles for every other hardware platform," Emmett explained. "It's so intrinsically built into how consoles get manufactured and made and the full business model, that I'd be surprised to see another generation."

"They're going to have to change form," he added. "You can already see this on both Xbox and PlayStation where there's a tighter upgrade loop for both the operating systems and the games."

It was previously reported that the PlayStation 5 may have been canceled to make way for the PS4K. Even PlayStation president Shuhei Yoshida had not given a concrete answer when asked about the PS5 release date and other details.

However, in last year's report by PS5PlayStation5.com, it was revealed that the company was looking for a Senior Game Programmer to help them in "developing a game used for R&D purposes related to our next generation gaming system."

This fueled rumors that Sony is developing the PlayStation 5. Still, it hasn't been confirmed that this was for the highly-anticipated console.

Crossmap noted that Sony and Microsoft may add VR integration to PlayStation 5 and Xbox Two, respectively. Apparently, Xbox Two could have HoloLens and Project Morpheus could be integrated with PlayStation 5.

Moreover, the two gaming giants are believed to test their VR technology on the market first. Afterwards, the results could decide the fate of the two consoles.

Christian Today added that Microsoft will be unveiling new hardware at E3 2016. This could be Xbox Two or a new Xbox One standard controller.