The new console bears a strong resemblance to Microsoft's new Xbox. (Getty)
Andrew House, President and Group CEO Sony Computer Entertainment Inc., holds up a Playstation 4 at the Sony Playstation E3 2013 press conference. (Getty)
Young and richPrepare to be astounded and a little bit jealous of these kids who are uber rich and chronicle it all on instagram.
Sony has given the first glimpse of its new PlayStation 4 console, promising to combine its film, music, television and game strengths in a powerhouse home entertainment box.
Sony Computer Entertainment president Andrew House touted the next-generation PlayStation console as being built for the future while, at the same time, saying the company was remaining true to its successor the PlayStation 3.
"This is a completely new platform and, in many ways, represents a completely new PlayStation," House said during a press event here on the eve of the premier E3 videogame expo.
PICS: New Xbox unveiled
"We are more than ever capitalising on the vast network of Sony divisions and the reputation of one of the biggest and most powerful entertainment brands in the world."
The PS4 will launch with beefed up offerings at the Sony Unlimited movie and music services as the console moves to expand into a complete home entertainment center while remaining true to hardcore gamers.
As Sony sets out to win fans for the PS4, it will continue to ramp up content for PS3.
House said that PlayStation will be available in the US and Europe by the year-end holiday season for a price of $US399.