Everyone seems to assume Persona 5 will be on PS3.

However I think it will be on PSP.  There are 4 main reasons I think so.

1) PSP's Userbase in Japan.

2) Persona Portables.  They've sold well.  Really well considering they are old ports.  Persona 3 PSP seems to have matched Persona 3's PS2 sales in Japan.

3) Persona games don't sell that much anyway.  Doesn't seem smart to put an HD budget behind the project when you consider just how many demons you need to render.

4) Shin Megami Tensei PS3.  It never came out.  It was announced pretty much at launch as being worked on.  I'd expect them to finish that before they made any Persona or any other Shin Megami plans on PS3.

Well, one thing is for sure, I WANT it to come to the Ps3!
It seems pretty safe to bet it'll be for either the Ps3 or PsP though.

It will be either PSP oder HD Multi, Atlus said that they were hiring both X360 and PS3 developers, don't see any reason to make it exclusive, most of the X360 owners also had a PS2 and may have played Persona.

i think it will be PSP aswell, unless PS3 dev costs, userbase and price of unit in Japan drop before then.

Ps3 or 360 would be nice but the best move would be for the psp

i think PSP, if they bothered to release ports it was to test the market. and they sold quite decent.

though they are hiring HD developers too maybe for another game but at least we know ps3 version incoming, looking at how hokuto sold in 360 probably square enix no japanese 360 version was the right choice.

Probabilities:

PS3 >>> PS3/X360 >> PSP >> NDS >>>> X360 >>>> Wii

I don't see how they couldn't do it for the PS3. Atlus has lately received pretty good profits from their other franchises. PSP wouldn't be enough for a full-fledged Persona-sequel in my opinion, it would be pretty stupid if the new Persona instalment would be a visual novel and JRPG-hybrid like Persona 3 Portable.

Well the way is see ulit is either ps3 exclusive or if not psp. I don't think porting to the 360 is smart since we all know it will sale like crap. Don't lie to ur selves ppl we all know if it an FPS is ganna sell millions but not these game. Yea many ps2 urser base but it isn't the same anymore poor console is infested with fps only which is sad

Yuck... handhelds. This deserves to be on a home console, with surround sound system and everything.