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Sony’s development team is currently working on the PlayStation 4, which will be the latest in their popular video game platform line. Although Sony has been mostly tight lipped about the system, the information which they have released has PlayStation fans buzzing; there is no concrete release date available yet, but most industry insiders agree that the PlayStation 4 will most likely be released in time for Christmas 2012.

The most popular of the many design rumors state that the system will retain a similar look and feel to the PS3 but with a slightly slimmer and more futuristic design. Although gamers have shown a definite interest in the physical design of the upcoming system, the largest amount of interest is understandably based around what will come under the hood. Speculation is rampant about whether or not the PlayStation 4 will include support for previous PlayStation games, but if the history of the system has taught us anything it’s that Sony does not believe that backwards compatibility is a necessary feature. Many gamers disagree with this idea but sales of each Sony console, and even the PSP, have proven that there is a strong market for the PlayStation regardless of how budget unfriendly each new release is.

The minimal amount of verifiable information that is available about the PlayStation 4 is very positive; not only will the system be much stronger than the PS3 but developers are also utilizing an eco-friendly design which will ensure that the PS4 will not use as much electricity as the PS3 currently does. Although industry experts have long speculated that the PS3 was never pushed to its full limits, the team behind the bestselling Uncharted franchise released an announcement stating that the PS3 does not have the capacity to run any further installments of their bestselling series. The Uncharted series has been the poster child for the PS3 and it is likely that Uncharted 4 is currently being developed for the PlayStation 4.

It is not certain how much of the current Playstation Network functionality will be retained once Sony releases the PlayStation 4 but it would make sense for current features, such as playing PSP games through the PS3, to remain intact. Sony has made regular improvements to the PS3 since its launch date and it seems to be a safe bet that the best of these features will be brought forward, along with a long list of brand new features. The extent of these features will be a big factor in the price of the new system; most experts and fans agree that it will probably launch with a price tag over $500.