Konami has mentioned that Metal Gear Solid V: The Phantom Pain could be released as late as late 2015.
Game analyst David Gibson tweeted the following during a Konami conference earlier this week:
Konami admitting Ground Zeroes is a bit short, MGS5 could be released in FY3/2015 or FY3/2016 depending on the development stage
In other words, Metal Gear Solid V: The Phantom Pain could be released later this year, or as late as 2015 as mentioned above. Kojima has described The Phantom Pain as a massive game so I wouldn’t be surprised if it comes out in 2015.
Ground Zeroes on the other hand is released next month and is a short taster for things to come in the highly anticipated sequel.