Sony has unveiled the PlayStation 4, its next-generation gaming system, with its promised social and remote capabilities, The Associated Press reported. This release, announced on Wednesday, helps to give the floundering Japanese electronics company a boost over Microsoft and an Xbox 360 successor.

The PlayStation 4's controller is similar to that of the PlayStation 3, with the addition of a touchpad, motion control, and a share button, according to the AP. Sony told the AP that the new console will be part of an emerging ecosystem focused on hardware, software and "the fastest, most powerful gaming network."

The PlayStation 4 will be Sony's first major game console since 2006, when the PlayStation 3 went on sale. Microsoft is not far behind, expected to unveil its next Xbox in June at Los Angeles' E3 video game expo. Nintendo started to sell the Wii U last year, the AP reported, but it has to play catch-up when it comes to bringing the ability to play high-definition games.

Xbox 360 came out after PlayStation 3 - in fact, a year later, but it has gained greater popularity, mostly because of its Xbox Live system, which allows people to play games together online. Although the Wii sold more units since its launch than both Xbox 360 and PlayStation 3, that quickly died down once people lost excitement about its motion controller. Sales of the new Wii U, according to the AP, have been slow.

Sony chose to hold its announcement event in New York instead of Japan - as it had previously - emphasizing the importance of the U.S. market. The event will take place at midtown Manhattan's Hammerstein Ballroom.