Playstation 4 update!

Sony is scheduled to reveal new information regarding Playstation 4 release date, price, specs and games available for the next-gen console Monday at the annual E3 gaming conference.

As for a possible release date, Sony has been pretty hush hush. So far most reports point to a holiday 2013 release somewhere around fall, just in time for Christmas.

Like the PS3, the PS4 will feature games in different genres, and at different prices [DLC will vary for each new game.]

Some of the more anticipated titles to grace the PS4 is the third installment in the Infamous series [Infamous: Second Son], Killzone: Shadow Fall, and possibly a new Uncharted 4. Call of Duty: Ghosts and Assassin's Creed 4: Black Flag are among some of the top titles from third-party developers.

As for console specs, the PS4 boasts 8GB RAM, making it more PC than video game system. The PS4 controller is more or less the same, except now it has a "share" button which allows you to share real-time stats with friends and monitor their game play action. The "share" button will only be available for certain PS4 games.

What about price? How much would you be willing to spend on the new PS4 console? While we'll probably have a confirmed price after E3 today, some reports claim the new PS4 will cost around $349. Similar reports point to a $399 price tage for console competitor, the Xbox One.

Will you be purchasing a new console this holiday season? Will it be the new Sony Playstation 4 or the Microsoft Xbox One?

Here's a trailer for the new Playstation 4: