The PS4 release date is expected to be announced on Feb. 20. However, rumors have been swirling that the Sony device will feature PS3 game support when streamed over the Internet. Rumors have also indicated that PS3 titles would not work on the new system, the PS4 release date will finally unveil exactly what kind of specs the gaming system will have.

According to GSM Arena, Sony written acquired Gaikai, a cloud-based service specializing in streaming games over the Internet. The blog reports that PS4 will support only PS3 titles on the device, at least in the beginning.

"We have reported in the past that Sony will be adopting AMD processors with x86 architecture for the PS4, which means it will lose compatibility with PS3 titles," GSM Arena posted. "However, with the help of this cloud streaming service, you could still be able to play PS3 games on your PS4, without having the actual game with you."

PS4 release date is expected to be around the Pre-Christmas shopping season. Reports indicate that the PS4 release date in the US and Japan will definitely be in 2013. However, an announcement from Sony on Feb. 20 is expected to shed light on the precise date the ground-breaking PS4 can be expected. One thing seems certain to tech experts--the Sony device will not be cheap. A projected $430 or more is the likely price of the gaming device.

The PS4 release date has been a hot topic for gamers for more than one year. "Nikkei Business Daily," a Japanese publication confirms that Sony will be announcing the official release date on Feb. 20. Another major Japanese publication, "The Asahi Shimbun," claims that PlayStation 4 will go for 40,000 yen, which is estimated at $430.

"When major Japanese newspapers like Asahi or Nikkei run rumors, they are usually pretty solid," blogger Brian Ashcraft wrote for the tech blog Kotaku "Thing is, there's not much here that hasn't already been leaked before."

"The price point doesn't seem rock solid," Ashcraft wrote. "Remember how much the original PS3 cost? The 20GB version was US$499, while the 60GB version was $599. Now the Asahi News is saying PS4 will cost over $400. That's not only kind of vague, but rather obvious!"

Although the price of the Sony device seems hefty, Pressblue.com also agrees that a price change may be in the works that considering the tech specs and innovations the PS4 brings.

"[A] $400 price tag for the PS4 would see Sony selling the console at a considerable loss," the publication expressed.

Catch the Feb. 20 announcement in NYC at 6PM EST.