At an invitation-only event in New York on Wednesday, Sony Corp announced its next-generation video gaming console - the PlayStation 4 (PS4) – which boasts a speedier, graphics-rich hardware as well as attractive new Internet-based features.

While demonstrating the underlying hardware of the PS4 – which will take on fierce competition from the Web and mobile devices -, Sony said that the design of the hardware will unfold better-quality graphics; and added that the new social features of the console include the sharing of recorded gameplay clips.

The PS4 – which will be succeeding the 2006-launched PS3 that has sold nearly 75 million units – will chiefly challenge Nintendo's new Wii U console and Microsoft's yet-to-be-unveiled successor of its Xbox 360 console.

The key features of the Sony PS4 include an x86-based central processing unit (CPU) that is fairly akin to the CPU of most desktop computers, and a much improved PC graphics processing unit (GPU); both of which have been designed by the US firm Advanced Micro Devices (AMD).

With the PS4 also coming with a new DualShock 4 controller, which includes a touchpad, a "share button" and a lightbar, Sony has described the console as being like a "supercharged" PC.

According to the information shared by Sony, the new console will Sony said the console will be "coming holiday 2013;" which means that the device will hit the markets in at least some countries by December this year.