The current global health crisis caused by the COVID-19 virus triggered many tech companies to delay the release of their upcoming products. It also canceled various gaming and tech events and pushed organizers to hold these usual physical events online. PS5 fans, fortunately, can heave a sigh of relief as Sony seemingly confirmed that the development of PS5 games is going as planned.

The latest update comes from the latest financial statements of Sony for the end of the fiscal year. The financial documents revealed that the Japanese gaming giant is still on schedule when it comes to the release of its next-generation gaming console, the PS5. While it acknowledged that the COVID-19 pandemic had caused several effects to the company, it noted that those were minor complications.

Sony has been tight-lip when it comes to updates about its first-party studio as well as its partner studios' titles. But, with the recent statement, it is anticipated that some games might be delayed, and some might see changes in the release schedule. But, like its major PS4 titles, "The Last of Us 2" and "Ghost of Tsushima," none of these have met significant delays on their respective release date.

Sony is not alone in this issue as the COVID-19 pandemic hit the entire gaming industry. But, gaming console enthusiasts should not be disappointed this year. Aside from Sony Interactive Entertainment confirming the on-schedule arrival of the PS5, Microsoft's next-generation gaming console is also arriving on time.

Xbox Boss Phil Spencer recently confirmed that the Xbox Series X is still arriving on its original release window, which is sometime in the holiday of 2020. Although the executive was careful to temper anticipations given the current global condition, his recent statement is an assurance that the Xbox Series X will arrive this year. Meanwhile, Sony has yet to announce the official PS5 console reveal.

Its rival Xbox Series X was officially unveiled in 2019 at The Game Awards. Microsoft has also held several events for its next-generation gaming console. So far, Sony has trickled some details about the PS5 along with some of its major features. SIE President Jim Ryan earlier confirmed that while the company has already shared some of the critical features of the PS5, these were the foundation of the advanced technology that the company has in store for fans.

In other words, the Japanese gaming giant has not yet revealed the major features of its next-generation gaming console. Whispers online claimed that Sony might hold its official PS5 unveiling event in Jun 2020.