PS5 announced for release next year...
... sometime between October and December.
https://youtube.com/watch?v=cpwHcVcDnhY
Really looking forward to this. I passed on the PS4 console because I still had plenty of games on the PS3 to keep me entertained till 5 came out.
It looks like they're going to replace the spinning hard drive with a solid state drive which'll make loading times much faster. They're also doing something vastly different with the controller. Fortunately, the system will be backwards compatible so you can play your PS4 games on it as well.