In a shock announcement made on Tuesday at E3, Square Enix have confirmed the existence of Final Fantasy XIV. The game is being developed for the PlayStation 3 and PC, and will see a simultaneously worldwide release. As for the gameplay, Final Fantasy XIV will be online only.
A brief trailer for Final Fantasy XIV was shown at the Sony Press Conference, one that looked much like Final Fantasy XI and had the text "A new online epic begins." Based on the trailer, the game appears to take place in medieval times with Chocobos and airships.