According to reports, bigwig Japanese electronics maker Sony is apparently all set to unveil its next home video game console - PlayStation 4 - at a Wednesday event in New York.

Despite the fact that Sony has not yet made any official disclosure about the details of its new PlayStation, the company has implicitly hinted at the possible unveiling of the device at the forthcoming event via a brief announcement that encourages video game players to "see the future" of PlayStation.

With Sony, as well as its key competitors Nintendo and Microsoft, facing increasing pressure from handheld devices like smartphones and tablets, there have been speculations galore about the features that are likely to come aboard the next PlayStation. In the opinion of most industry analysts, Sony will probably press forward with improvements to the online PlayStation network and increased digital content options.

In addition, it is also being projected by the analysts that the new Sony PlayStation console will boast a notable enhancement in technical power. While predicting that PlayStation 4 "is certainly going to be faster" than its predecessors, Wedbush Securities analyst Michael Pachter said that the jump might be comparatively less vast than that in the earlier generation PlayStation consoles.

With Sony apparently banking on the next PlayStation to reclaim some of its status in video game hardware business, Pachter said about the forthcoming console: "I think we're getting to the point where games look almost real, (but) you're just not going to want to look more than real."