Sony is planning to release its new home videogame console, which is claimed to be the successor to its PlayStation 3, on a planned event on 20 February 2013.

The new gaming console is aimed against Microsoft’s own next-generation game machine, which is also expected to be released this year.

Additionally, Sony is reportedly planning to integrate more social gaming aspects into the new gaming console, in addition to hardware enhancements which are aimed at how users interact with the machine.

The PS3 was launched in Japan in November 2006 and so far sold about 70 million units worldwide though the sales was comparatively less than its wildly popular PS2.

Sony’s release of console comes in the midst of the console videogame industry growing through weak demand, as sales of new videogames, consoles and accessories at US retail shops dropped 22% in December 2012 over the corresponding month in 2011.

Beleaguered game maker Nintendo has recently reduced its sales target for the Wii U, which is the successor to its 100 million-selling Wii, to 4 million machines by the end of March 2013 from its launch in November 2012, over its earlier prediction forecast for 5.5 million.

Sony and other console makers including Nintendo and Microsoft of course have to compete with generic tablets manufactured by Apple and Samsung Electronics.