Sony made the announcement the tech world anticipated last night, telling fans at a New York City press conference that PlayStation 4 would be on sale this holiday season.
But the electronics company didn't reveal the device itself, much to the chagrin of many on the Internet.
The price of PS4 has not yet been determined, said Jack Tretton, CEO of Sony Computer Entertainment of America.
But it will likely go for approximately $500-$600, the same as PS3 when it debuted over six years ago.
The PlayStation 4 console, meanwhile, will be part of a new ecosystem focused on hardware, software and "the fastest, most powerful gaming network," according to Mark Cerny, Sony's lead system architect on the item.
PS4 will also…
… have a Blu-ray disc drive.
… lack the ability to play games created for previous PS editions.
… feature a button that allows one to broadcast video of one's game play virtually, across social networks.
Labeling PS4 a "supercharged PC," Tretton said:
"One of the big challenges we faced in the past was that we created great technology that we handed over to the development community, and they had to go through a learning curve before they could harness it. And when they did, we saw some phenomenal games. We wanted to lower that barrier of entry and really give them the ability to create tremendous gaming experiences from Day One."