Sony Said Likely to Introduce PlayStation 4, Beat Microsoft on Xbox

Sony Corp. is likely to introduce a new PlayStation game console at a Feb. 20 event, giving it a jump over Microsoft Corp.'s announcement of a new Xbox, according to reports.

In a blog post Thursday, Sony invited fans to "see the future" at the Play Station-themed event, though offered few details. 

The video post shows a rendering of PlayStation controller symbols and a PlayStation logo. See the video below.

Reports quickly speculated that Sony is planning to introduce a new generation of its console at the event.

The Wall Street Journal cites sources as saying the console will incorporate social gaming aspects as Sony works to compete in a changing market.

The console gaming market has seen a major slowdown in recent years as people turned to mobile and online games, many of which are free or very inexpensive.

Reports say Microsoft is also working on a new console, a successor to the Xbox, and will unveil the device in June.

Read more at the WashingtonPost and at MarketWatch.