The Wall Street Journal cites “people familiar with the matter” for its claims; the publication’s sources also said Microsoft’s new console will release before the end of 2013.

The report goes on to say the new PlayStation console will incorporate more social features, with Sony concentrating on improving how users interact with the machine instead of just beefing up its power.

The whisperers said Sony and Microsoft both considered dropping an optical disk drive altogether but scrapped plans thanks to the size of game downloads and the poor speed of Internet connections in many important territories.

The sources reiterated past rumors that the heart of the new machine is a AMD tech, cautioning that a non-Cell processor will cause compatibility issues with the current generation’s catalogue.

Today, Sony called a PlayStation Meeting for February 20 where it is tipped to unveil a new console. Its last PlayStation Meeting, in 2011, debuted the Vita, almost a year ahead of its release.

Michael Pachter Tweeted “Sony is inviting investors and media to the Feb 20 event; that means console announcement.”

This means it’s very possible that the PS4 could be revealed soon. Will it? Only time will tell.

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