Sony said Tuesday that its next game console, the PlayStation 5, will arrive by next year's holiday shopping season. It also announced the PS5's controllers will feature advanced haptics with variable tension, so shooting a bow and arrow feels more realistic, for example.
Why it matters: Though eagerly awaited by hard core gamers, the new PlayStation will face competition not just from Microsoft's next Xbox, but also from streaming services like Google's Stadia.
The big picture: Sony unveiled the PS5 in April but didn't say when it would ship. Microsoft announced earlier this year that its next Xbox, code-named Project Scarlett, is also due out for next year's holidays. Both are powered by AMD's Ryzen processor and will pack far more computing power than their predecessors.
