Sony has shot down the idea of the PS4 even being mentioned during E3 2012, let alone releasing this year. Now executive deputy president of Sony Corp. Kaz Hirai has quashed the rumor that the next PlayStation will, in fact, be a cloud-based solution instead of a physical piece of hardware.

“It’s very important that we continue to have a dedicated home-based console,” Hirai said. “Relying solely on networks to deliver content is unfortunately just not possible. It’s still very difficult to have consumers download 50 gigabytes of data or more.”

Source: Bloomberg.com