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I expect Sony to make two models: A home console, and a handheld. But I can't say when the handheld will launch and whether it's going to be a PS5 or a PS6. Generations as we knew them are dying in real time, the AAA PC game that you're happily playing on your 5090 rig can be played on the SteamdDeck in low settings. This may get worse in the next generation unless developers suddenly start making games that aren't scalable to hardware with a tiny fraction the power of a mid range PC.

The handheld Playstation will be digital only. The home console will launch in digital and disc editions, but Sony will push the digital edition more this time. Ditching physical this early would be a dangerous and stupid move. Some single player games on PS still sell more physical than digital when bundles aren't accounted for, as long as they remain widely available in stores.