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Count Goldman Sachs analyst Takashi Watanabe as being pessimistic on the PlayStation 4′s chances for success. Per Business Insider, Watanabe has penned a new research note that casts doubt not only on Sony’s (SNE) new console specifically, but on the gaming console business as a whole. Specifically, Watanabe thinks that smartphones and tablets are poised to erode consoles’ installed base because more people can get their gaming fix through cheap games such as Angry Birds and Cut the Rope rather than spending $60 to buy the latest version of Call of Duty. This lower installation base leads to negative reinforcement where developers are less likely to invest in developing top-notch games for the platform, which further erodes consumers’ willingness to shell out cash for the console. More →

Executives at GameStop (GME) breathed a collective sigh of relief Wednesday night as Sony (SNE) finally dispelled rumors that its next-generation PlayStation 4 video game console would block used games. Sony unveiled the PlayStation 4 during a press conference on Wednesday and while it did confirm that PlayStation 3 titles will not be natively supported on the new console, Sony executive Shuhei Yoshida told Eurogamer that ”used games can play on a PS4.” Sony’s next-generation video game console is powered by an eight-core Jaguar CPU, an AMD Radeon GPU and 8GB of RAM, and it will launch ahead of the holidays this year.

Sony (SNE) unveiled its next-generation PlayStation 4 video game console on Wednesday evening, and the console looks impressive to say the least. Powered by an eight-core CPU, a powerful GPU and 8GB of RAM, Sony is calling its new PlayStation console “the evolution of gaming.” The PS4 is packed with power and a host of new social features, and Sony confirmed on Wednesday that it will launch the new console ahead of the holidays this year. No specific release date or pricing were announced. More →

Sony (SNE) on Wednesday finally took the wraps off of its highly anticipated PlayStation 4 video game console during a press conference in New York City. The next-generation PlayStation features a brand new design, new controllers and a serious bump in specs that will give developers a platform on which they can push the boundaries of home gaming like never before. More →

Sony (SNE), Microsoft (MSFT) and Nintendo (NTDOY) are no strangers to the battle for video game console supremacy. Each company has taken its turn at the top and Microsoft has the edge right now as its Xbox 360 just recorded its twenty-fifth consecutive month as the best-selling home console in the United States. In 2013, however, the slate gets wiped clean. Nintendo got a head start by launching the Wii U ahead of the holidays last year, but it’s off to a rocky start to say the least. Now, it’s Sony’s turn to shine. Rumors have come hot and heavy for the past few months and today we’ll finally see what Sony has in store for us with its next-generation PlayStation 4. Will Sony’s new console be impressive enough to help revive the slumping video game industry when it launches ahead of the holidays this year? Tune into our live coverage below to find out. More →

This is it, gamers — the moment you’ve been waiting for. Nintendo (NTDOY) was the first major console vendor to unwrap its next-generation offering, but the Wii U isn’t quite shaping up to be the smash hit Nintendo was hoping for. Microsoft’s (MSFT) next Xbox is expected to be unwrapped later this year at the E3 conference, so Sony (SNE) is looking to get a jump on the competition by unveiling its new PlayStation 4 at a special event in New York City on Tuesday. Rampant rumors already paint a pretty impressive picture of Sony’s next home console but Sony may very well have a few surprises in store as it gears up for the imminent next-generation console battle.

Bookmark this link, which will go live shortly before the event begins tonight, and make sure to head there for our live coverage of Sony’s press conference! Coverage will begin just before 6:00 p.m. EST / 3:00 p.m. PST.

Sony (SNE) has offered backwards compatibility with the PlayStation 2 and select models of the PlayStation 3, however it was rumored that older games would not be supported on the PlayStation 4 due to the move to an AMD chipset. But according to a report from The Wall Street Journal, the company isn’t prepared to leave the classics behind with the release of its new gaming console. Sony will reportedly use technology that it acquired from cloud gaming firm Gaikai last July that can stream older games to the PlayStation 4. It is unclear how the company will charge for streamed games but it may be the case that users will be forced to purchase online versions of games they physically own. More →

An image published by Destructoid on Thursday supposedly revealed a prototype of the controller for Sony’s (SNE) upcoming PlayStation 4 gaming console. The device pictured looks like a traditional PlayStation controller with a directional pad, two analog sticks and four buttons, but it also includes a small touchpad and a blue light that resembles Sony’s PlayStation Move motion device. The controller was said to be one of the prototypes that Sony tested for its next-generation console. The story was later confirmed by sources speaking to Kotaku who said “the photo is the real deal,” but it “may not represent the final form of the controller.” More →

Sony (SNE) is scheduled to announce its next-generation PlayStation 4 console at a press conference in New York City on February 20th. Recent rumors have pegged the system as a gaming powerhouse with 16GB of RAM, 256GB of storage, and 1080p HD resolution in 3D at 60 fps, however this may not be what the company is aiming for. According to a report from the Nikkei, Sony hopes the Playstation 4 will act more as a home entertainment “nerve center” than a dedicated gaming system. An unnamed company executive reportedly said that the console’s main selling point won’t be its high-end specs, but rather the new styles of play it will introduce and its ability to connect and share to mobile devices. The PlayStation 4 is rumored to launch in October and could cost more than $400.

Sony’s (SNE) next-generation PlayStation 4 console is set to be unveiled during a press conference on February 20th and while pricing details are not expected at the event, a new report claims to shed light on the upcoming console’s cost. According to the Japanese paper The Asahi Shimbun, Sony’s new console may cost more than 40,000 yen, or $426 USD, when it launches ahead of the holidays this year. Pricing may vary by region, and an earlier report suggested that the next-generation Sony console will cost between $350 and $400. The PlayStation 3 was priced at $599 when it launched seven years ago in 2006.