Live video for mobile from Ustream
Sony is presumably announcing its next generation console to a crowd of journalists in New York City on Wednesday evening.
The next console, codenamed "Orbis" by Sony and currently being referred to by most as the PlayStation 4, will potentially be available by the end of 2013.
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What to Expect From the Next PlayStation
So you can follow along with the event, Sony has provided a live stream in the Ustream window above. The event starts at 6 p.m. EST/3 p.m. PST, and runs for at least an hour.
What are your predictions and thoughts for the new PlayStation? Let us know in the comments.