Sony: New PlayStation on Deck

NEW YORK ( TheStreet) - Wow. Hard to believe it's been this long coming. It's more than six years since the last "next-generation" gaming console was unveiled by Sony ( SNE). The PlayStation 3 console - or "PS3", as everyone calls it, was officially announced on Nov. 11, 2006. To give you an idea of how long ago that was in technological years - it's back in the days when Palm's Treos ruled the "PDA phone" roost.

So, when Sony sends invitations to the press (and possibly some corporate investors) announcing an evening event, here in New York, on Feb. 20, proclaiming "see the future of PlayStation" we're pretty sure it will have something to do with the device Sony had code named "Orbis". It will probably be known as the PlayStation 4.

Sony isn't giving much away in advance of what we'll see at the event. The promotional video doesn't tell us much of anything about what to expect. You can, though, "be the first to know" what they're hinting at by signing-up for more information. But, even doing that, don't expect to learn much more before the NYC event.

Tech blog Kotaku says it has some information about the upcoming console. Kotaku believes it will run on AMD ( AMD) processors - an 8-core, 64-bit CPU and R10XX GPU. There could also be a new style touch controller that will come with the PS4 as well.

Enough conjecture. With the big event set for three weeks from now we'll know a lot more soon enough.

--Written by Gary Krakow in New York.

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Gary Krakow is TheStreet's senior technology correspondent.