The PlayStation 4 might have sold twice as many units as the Xbox One since it launched in 2013, but sales are slowing down. During Sony's Corporate Strategy Meeting, PlayStation boss John Kodera announced that the console is entering the end of its life cycle, while this might sound ominous for owners, the PS4 isn't going away anytime soon.

As noted during its recent full-year financial results, Sony's Game & Network Services segment brought in 17.8 percent more revenue compared to the previous year. The company anticipates falling hardware sales this year but expects that to be offset by more people buying games and taking out PlayStation Plus subscriptions.

The Wall Street Journal's Takashi Mochizuki reported some of what Kodera said on Twitter. The CEO announced that Sony wants to create more first-party exclusives while expanding successful IPs and refreshing existing ones.

Kodera also mentioned the PlayStation VR, which, other than a recent price drop, doesn't seem to get much coverage these days. The platform is growing, apparently, though not as quickly as the market expected. Sony's PlayStation Vue TV streaming service is also having a difficult time due to strong competition.

With exclusives such as The Last of Us: part II and Days Gone on the way, there's still plenty of life left in the console yet. Moreover, the PlayStation 4 Pro continues to be popular, thanks to price drops and new games that look amazing on the machine, such as God of War.

It's unlikely that Kodera's comments mean the PlayStation 5 could be here sooner than expected. The next-gen console's rumored specs arrived online last month, but a late 2019 or 2020 launch date still seems likely.