According to Sony's annual financial report, Sony's PS5 is "on track for launch this holiday season" despite difficulties caused by the coronavirus outbreak.

The report (via The Verge) notes in the "Gaming and Network Services" section that "factors such as employee telecommuting and restrictions on international travel" posed challenges to Sony's testing process and "production line qualification." Despite this, however, Sony is confident that it will be able to meet its own deadlines for the PS5.

This also applies to software, with game developers under the PlayStation Studios umbrella likely to be working on launch titles for the console, or at least games that will appear early in the PS5's life. The report specifically states that "at this time, there are no major problems in the game software development pipeline of Sony's first-party or partner studios."

Also mentioned in the games section of the report, Sony's PlayStation did not have a strong year last year, with gaming revenue down 14% due to lower PS4 unit sales. However, it does suggest the importance of the PS5. This makes sense, as many PlayStation fans are likely saving their money to get the new console when it is released.

The PS5 was rumored to be released in October instead of November, which was the expected launch date for the new console. However, this story was later proven false because of an error in the job ad that served as the source.

So, in all likelihood, the PS5 will debut at the same time as the Xbox Series X in November. Both consoles feature innovative technologies such as custom SSD storage and ray-tracing-enabled graphics, as well as a number of compelling exclusive games. However, Sony has only shown off the DualSense controller at the time of this writing, and the PS5 itself has yet to be revealed.