The Japanese consumer electronics giant, Sony is hosting a major Playstation mystery event next month, rumor has it sony is planning to unveil next-generation PlayStation 4 console. Gaming pundits and fans are wondering, will this be the next-generation PlayStation 4 launch?

Sony has declined to say, if it would release PS3 games console successor in New York on February 20. “We will be talking about the Playstation business,” spokesman Masaki Tsukakoshi said on Friday. The PS3, which has sold about 70.2 million consoles worldwide, was launched on November 11, 2006, in Japan.

Michael Pachter, an gaming research analyst with Wedbuch Securities, said in a tweet that “Sony is inviting investors and media to the Feb 20 event; that means console announcement. I’m genuinely excited”.

The last time Sony held a Playstation event, in January 2011, it announced the PlayStation Vita handheld console. Sid Shuman has posted on Sony’s official PlayStation blog titled “See The Future” and the message “Be the first to know.”

The event will happen on Feb. 20. In the meantime, i’ve embedded the video below.

• Japanese video game maker Nintendo drops Wii price to $199 for first time
  Nintendo Co. cut the price of the top-selling Wii for the first time since the game console’s introduction in 2006, starting Sunday, the system will go for $199.99 — a $50 dollar discount from the or…
• PlayStation 3 Owners Can now Stream Netflix Movies
  PlayStation 3 owners will be able to stream movies and TV shows from Netflix on their gaming consoles starting next month. Sony Corp. and Netflix Inc. were set to announce the deal Monday. The service…
• What are the implications of Lifting the Ban on video game consoles in China?
  Authorities in Beijing reportedly considering lifting its 13-year ban on video games consoles such as Sony’s PlayStation, Ninetendo and Microsoft’s Xbox in China.

  Thanks to concerns over the menta…

• Do you think fine on Sony for the large-scale PSN hack is not enough?
  U.K.’s data protection watchdog, the Information Commissioner’s Office (ICO) has fined Sony Computer Entertainment Europe (SCEE) $396,100 for having insufficient security measures to prevent a cyberat…
• NO Christmas- Nintendo to launch 3DS game machine- glasses-free 3-D technology in Feb
  Japan’s Kyoto-based Nintendo Co Ltd (7974.OS) said it would launch a 3D-capable version of its DS  hand held game console in Japan on Feb. 26 and, and March in Europe and the U.S. Kyoto-based Nintendo…
• Humbled video game pioneer iconic Atari files for bankruptcy protection
  To answer the question and given recent speculation, video game pioneer Atari is the fallen icon of American Video game industry – declared itself bankrupt. known for such popular early games as Pong,…
• Why News Corporation Buys Spymaster and iList Micro Social Gamer Irata Labs?
  News Corp. [[NWS]] has acquired Irata Labs , a San Francisco social games developer that builds games and other applications for social networks such as Twitter and Facebook. Irata is best known for c…