The new PlayStation 4 could explode onto the scene in three weeks. Sony invites us to "see the future" at an event on 20 February, potentially gazumping the rival.
If the event this month does see the launch of the long-awaited follow-up to the PlayStation 3, then Sony will beat Microsoft to the punch by unveiling its next generation console ahead of the rumoured Xbox 720.
The PlayStation launch will reveal what the hardware looks like, whether there's an exciting new way of controlling games, and the line-up of exclusive titles. But we almost certainly won't get our hands on the PS4 until much later in the year. In the meantime, hit play below to see Sony's tantalising teaser:
The Wall Street Journal reports that the new console will be powered by processor built by AMD, instead of the current Cell chip made by Nvidia -- which could cause problems with your current games on the new console.
Much has changed in the world of gaming since the current generation of games consoles first appeared in 2006. Casual and mobile gaming and online games have eaten into the market for traditional games consoles and hardware. Sony has has to address the changing market with the PS4, and reports say the new console will feature more social gubbins.
One thing Sony is keeping is the optical disk drive, as Sony feels online downloading of games isn't ready for a mass audience, with some countries saddled with broadband connections that can't handle the required file sizes.
Are you excited about the Sony PlayStation 4? Will the Xbox 720 be the better console -- or are consoles doomed? Tell me your thoughts in the comments or on our Facebook page, and don't forget to get all your gaming goodness from our button-bashing buddies at GameSpot.