The PlayStation 4 release date could be set for some time in 2013 as Sony is now rumored to be unveiling the device on Feb. 20.
A Japanese publication known as Asahi Shimbum reported that the PlayStation 4 will launch sometime this year and that it will cost Y40,000 which is equivalent to about $428. This would make the new device slightly more expensive than the cheapest PlayStation 3 model currently available in the U.S.
Kotaku.com shot down the pricing information revealed by Asashi, stating that there was no specific information on pricing in the original Japanese article. The publication also stated that the console will probably cost $400 rather than the strange $428 price tag.
However, the blog does credit Asahi for being a reliable publication, so it is safe to say that PS3 fans will see a successor before 2014.
The site also rehashed previous rumors that pointed to the PlayStation 4 allowing players to share things with friends while playing, and that it will come with a DualShock 3-shaped controller.
Nikkei also ran a story on the PlayStation 4 which stated that the system will ditch the Cell processor and will use processors made by another company. The PS4 will also utilize Gaikai cloud service.
Sony will most likely launch the next PlayStation model in two or three different memory capacities and the $400 price tag most likely applies to the lowest version.
Nintendo launched its Wii U Console at the end of last year. The company has struggled in generating interest for the device despite that lack of competition at this point in time. Microsoft is expected to release the Xbox 720 in 2013.