The PlayStation 4 was released in November 2013. Although it has had a long and successful run, Sony Interactive Entertainment CEO John Kodera has revealed that the, “PS4 is entering final phase of its life cycle.”

The Wall Street Journal reporter Takashi Mochizuki recently sat in on a Sony strategy meeting, and released some interesting statements that were made by Kodera. In a series of tweets, Mochizuki revealed Sony’s plans for the future. “PS chief Kodera: PS4 is entering final phase of its life cycle, which would have negative impact to the unit, but recurring revenue via membership services etc should cushion some of that,” wrote Mochizuki.

He continued on to explain how Sony plans to update their business model when it comes to their virtual and handheld devices. “PSVR growing, but industry’s growth is below market expectations. PS Vue is facing harder-than-expected competitions. Vue and PSVR would aim for further growth with realistic outlook,” he tweeted.

In an article written by Mochizuki for the WSJ, he declares that Kodera also stated, “We will use the next three years t