Sony revealed more details on its upcoming next-gen PlayStation console the morning of October 8, including confirmation on its name, PlayStation 5, and some info on the fancy new PS5 controller. Here's everything we know about the upcoming PS5 so far.

Sony infamously announced the high price of the PlayStation 3 in a cavalier way, a move it looked to avoid with the PlayStation 4. Now that the company has begun to share the early details on PS5 well in advance of its release, the subject of cost is of course on people's minds. With no release date announced (and its launch not exactly being imminent), Sony isn't ready to share a price at this stage--although it is trying to assuage any concerns about cost in light of the advanced hardware it packs in.

Those PS5 details were shared by Sony's Mark Cerny in an interview with Wired. What was published didn't cover price, Wired writer Peter Rubin did broach it during his discussion with Cerny, and he shared their exchange on Twitter. Naturally, Cerny was coy about saying too much about the topic, but he did tease the system will launch with an "appealing" price tag. "I believe that we will be able to release it at an SRP [suggested retail price] that will be appealing to gamers in light of its advanced feature set," he said.

Of course, Cerny's response leaves a lot of wiggle room, and his comment about the console's "advanced feature set" suggests it won't be cheap, although we likely won't know just how much it'll cost until closer to launch. As for when that will be, Sony hasn't yet announced a release window for its next console. Last May, however, head of PlayStation John Kodera said the new system was three years off, so it presumably won't arrive until 2020 at the earliest.

In addition to confirming backwards compatibility, Cerny revealed that the PS5 will use an AMD chip with a CPU based on the third-generation Ryzen, as well as a custom version of Radeon's Navi graphics chips. The system is also said to support 8K and includes a customized solid-state drive for quicker load times.

Beyond that, Sony didn't share many other details about its upcoming console, and it's unclear when the company will reveal more information. For the first time since entering the gaming market, Sony is skipping this year's E3, so any more news about the system will likely be reserved for its PlayStation Experience event or new State of Play streams, assuming the company plans on revealing it this year.