Sony will this month announce the late 2013 launch of its next-generation PlayStation console, Japanese media said Thursday.

The announcement will come at a PlayStation Meeting set for Feb 20 in New York, the Asahi Shimbun newspaper and Kyodo news agency reported. Sony did not comment on the reports.

Sony last week sent out invitations to a press event in New York, sparking rumors the world would get its first look at the newest console.

The company is expected to get the console into stores in time for this year's Christmas shopping season, the Asahi Shimbun said.

The PlayStation 4 is believed to feature a high-performance graphics chip, a touchpad controller, content sharing capabilities with other Sony portable devices and access to social networks,

The price of the PlayStation 4 is expected to exceed 40,000 yen ($430), the Asahi Shimbun added.

Seperately, Sony today reported an eighth consecutive quarterly loss on waning demand for TVs and consumer preferences for devices from Apple and Samsung Electronics.

The net loss narrowed to 10.8 billion yen ($115 million) in the three months ended December from 159 billion yen a year earlier, the Tokyo-based company said in a statement today. The company reiterated its forecast for annual net income of 20 billion yen, its first profitable year in five.

Sony cut its full-year sales targets for TVs to 13.5 million units from 14.5 million, for compact cameras to 15 million from 16 million, and for portable game players to 7 million from 10 million. It kept its smartphone sales target at 34 million units.