PlayStation CEO Jim Ryan told The Washington Post the company isn't ready to talk about the device's horsepower or specs. He did say the next headset will be less cumbersome, as opposed to the current PSVR setup that requires wires running through a PlayStation 4, the TV and a separate black box called the PSVR processor.

"Generational leaps allows you to sweep up the advances in technology that have taken place. Given this was our first foray into virtual reality, it gives us a chance to apply lessons learned. One of the very vivid illustrations of that is that we will be moving to an easy single-cord setup."

The next version of PlayStation VR will also borrow from its DualSense controllers, which debuted with the PS5 and provide super specific haptic feedback from the game to the palms of a player's hands.

Senior Vice President, Platform Planning & Management Hideaki Nishino wrote in a post on PlayStation's website Tuesday that one of the innovations the company was excited about was its new VR controller, which will incorporate some of the key features found in the DualSense wireless controller, along with a focus on great ergonomics.

There's no set launch date for the new VR device, according to Ryan. In an October 2020 interview with The Post, Ryan said while Sony was still very much interested in VR, any more news about the company's VR investments may not come in 2021.