Sony's PlayStation 4 was unveiled Feb. 20 at an event in New York. The next-generation console was announced by the Japanese company, along with its specs, but the actual hardware product was not revealed.

Sony only showcased the new DualShock 4 controller, which has a touchpad in the center that resembles the one on the PlayStation Vita along with a Share button to upload photos and videos of gameplay.

The confirmed specs for the new console include a x86 processor, a customized graphics processor and GDDR5 memory. The console will be capable of 170GPBS bandwidth and will include a Blu-ray/DVD drive, as well as USB 3.0, Ethernet and Bluetooth. There will also be a PS4 eye accessory that will have two cameras and four microphones and be capable of 1280 x 800 video at 60fps, 640 x 400 at 120fps and 320 x 192 at 240fps.

Sony's competitor Microsoft will likely release the Xbox 720 very soon.

The Xbox 720 will reportedly pack an eight 1.6GHz CPU core which, coupled with their potent 800MHz AMD 7000 series graphics cards, should deliver more than enough power to keep gamers on the leaderboards.

The Xbox 720 is expected to have 8GB RAM and will reportedly be running with a slower DDR3 RAM over the PlayStation 4's DDR5 offering. That means the PlayStation 4 will have more bandwidth to play around with and could possibly give PS4 titles a slight visual edge over those for Xbox 720. PS4 will come with a Blu-ray drive and the Xbox 720 is expected to come with the same.

Sources close to the development of Microsoft's next-generation game system said it may function completely through the Internet connected to the new Xbox Live, according to The Edge.

The Xbox 720 will also allegedly block the use of used games by having customers either download a game straight to the console or buy discs that will have the necessary one-time use activation code.

The alleged decision by Microsoft to wipe out the used game market and force internet connectivity may push some customers away from the Xbox 720 and toward Sony's new PlayStation 4.

Meanwhile, Sony revealed a few of the games that will be released with the upcoming console, but there was no official look at the actual hardware.

One of the new games announced is Killzone: Shadow Fall which follows the events of its predecessor, according to CNET. The latest titles in the Killzone series have traditionally debuted alongside Sony's new products.

The PlayStation 4 will reportedly hit the market in December for a release just in time for the holiday shopping season.