The highly anticipated Sony PS4 will finally debut at the "Future of PlayStation" press conference in New York City on Wednesday, Feb. 20, at 6 p.m. For gamers in California and in the UK, the event will begin at 3 p.m. and 11 p.m. respectively.

The launch of the new Sony PlayStation 4 marks the introduction of a new generation of gaming consoles. The video game industry has steadily shifted toward tablet and smartphone platforms the past couple of years as casual gamers prefer the accessibility of the games. An important leap, the new PS4 must convince consumers that gaming consoles are still the last word in the ultimate gaming experience.

Sources claim the upcoming Sony PS4 will push the envelope with an eight-core x64 AMD "Bulldozer" processor, 8GB or RAM, 2.25GB of video RAM. The PS4 will carry over the Blu-Ray drive and will also feature four high-speed USB 3.0 ports, an Ethernet port, HDMI output, and optical output. The new console will offer a 160GB hard drive but Sony may also offer ladder pricing for a number of hard drive storage sizes as well.

Finally, Sony's recently acquired Gaikai will also introduce a new cloud-streaming service that will allow PlayStation gamers to better access music, movies, and of course Sony's signature games online.

The PS4 launch will kick off Wednesday, Feb. 20, at 3 p.m., PST, 6 p.m., ET, and 11 p.m. in the UK. To learn more about the new Sony PS4 game console, be sure to bookmark this page to watch the "Future of PlayStation" event live online at the video below.

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