A man takes a picture at the PlayStation 4 launch event in New York. Reuters/Brendan McDermidd
The firm said it would be launching the new console for the holiday season,
touting it as a "significant shift from thinking of PlayStation as a box or console to thinking of the PlayStation 4 as a leading place for play".
Sony, Nintendo and Xbox maker Microsoft dominate the global games console market, which is worth about $44 billion annually, according to industry figures.
But they have come under increasing pressure recently in the face of tough competition from cheap -- or sometimes free -- downloadable games for smartphones and tablets.
Sony's latest console is a key part of the company's bid to return to profitability after four years in the red.
Its PlayStation 3 has sold more than 75 million units, while more than 155 million units of the PlayStation 2 have been sold since its debut in 2000, making it one of the best-selling videogame consoles of all time.
On Wednesday in Tokyo, Sony said it would book a one-time gain of 115 billion yen ($1.2 billion) by selling a six percent stake in M3 Inc. to Deutsche Securities. The unit supplies online medical information to doctors.
The move represents Sony's latest asset sale as it eyes a full-year profit, while undergoing a massive corporate overhaul that includes thousands of job cuts and the sale of a chemical division and its US headquarters in Manhattan.
Japan's electronics sector, including Sony, Panasonic and Sharp, has suffered from myriad problems including a strong yen, slowing demand in key export markets, fierce overseas competition, especially in television sales, and strategic mistakes.