Sony will this month host its first Playstation meeting in two years, sparking speculation the Japanese consumer electronics giant is preparing to unveil the successor of the PS3 game console.

Sony Computer Entertainment, posted a video along with the date Feb. 20. The video shows close-ups of the four symbols that appear on PlayStation controllers.

A press event is scheduled to be held in New York on the day. Sony's executives said that in the event the company will taklk about the "future of the PlayStation business."

Sony is rumored to be working on the new console under the name "Orbis." According to unconfirmed information, Sony is expected to change its classic of its game controller at the upcoming game console. It is also expectd to integrate biometric feedback into its controller along with an LCD touchscreen onto the new version of its controllers. The design of the new device will likely include chips designed by AMD, which people familiar with the matter said have been used in prototypes. The PS3 is based on the Cell chip, which was developed jointly with IBM and Toshiba.

Microsoft is also expcted to release the successor to its Xbox 360 this year.