Next PlayStation launching this year, say sources

Last night, Sony began teasing an upcoming event on February 20 to "see the future" of the PlayStation brand. The announcement of the event kicked off speculation that we'll finally see the Orbis revealed, and various sources have now chimed in with more details.

The Wall-Street Journal reports that its sources have confirmed this will be the debut of Sony's next console. They go on to say the system will be released this year, and claim this console will focus more on social aspects and how users interact with it than a strict focus on hardware power.

The social aspects could be tied into the controller. Sources tell Edge that the controller will feature a "Share" button. The system will reportedly record the last 15 minutes of play, and hitting the button will allow you to quickly edit and share screenshots and video.

Meanwhile, Polygon reports that Microsoft is planning its own reveal event for spring. This means Sony would beat Microsoft to the punch in talking about the next generation, despite CEO Kaz Hirai's recent comments to the contrary.