Almost six years after unveiling PlayStation 4, Sony has announced the upcoming release of its successor. The aptly-named Playstation 5 is set to launch in time for the holidays, Sony officials revealed Tuesday. Among the updated unit's features will be a redesigned controller that will include haptic feedback, which Sony CEO Jim Ryan says give users "a broader range of feedback, so crashing into a wall in a race car feels much different than making a tackle on the football field. You can even get a sense for a variety of textures when running through fields of grass or plodding through mud." The one thing Sony did not reveal about the new Playstation: it's price.