It is a powerful new machinne designed to stream next generation video games along with movies and other home entertainment.  The PlayStation 4 is essentially an 8 coreo processor computer loaded with memory and storage that uses wireless controllers.  It also has a stereo camera.  It will also connect you to friends and mobile devices including the handheld PS Vita.   The news from Sonsy is a big deal because unlike cell phones, where we see updated models with new technology in a steady stream, vviiddeeo game consoles have much longer life spans and the technology in them has to be pretty forward thinking to last for years.   The new PlayStation is schedule to go on sale for this year's holiday season.   That's seven years after the PlayStation 3 went on sale.   The expectation is Microsoft will be next to announce a successor to its Xbox 360.  Nintendo introduced its Wii U game machine last year.    In New York, I'm Fred Fishkin.