It’s no surprise that the current console cycle is coming to a close. A number of factors such as below-average sales, new technologies and some rumour-mongering have all indicated that the bigwigs of console manufacturing were secretly brewing something deep in their labs for the future.

Then came the announcement in early January – Sony sent out invites and got the word around on what it called ‘the future of PlayStation,’ holding a press conference in New York City on February 20, 2013.

Gaming enthusiasts from all over knew this could mean only one thing – the official announcement of the PlayStation 4. And so it was on February 20, that the world was given a brief glimpse of the future of gaming.

Even with all the rumours and information leaks regarding the system, Sony remained tight-lipped until the day of the announcement. It was here that the cat was officially out of the bag – the PlayStation 4 had become a reality, and Sony used every second to show off their new pride and joy, highlighting all the wonders of its newest machine.

Sony Computer Entertainment’s president Andrew House officially unveiled the PlayStation 4 brand name and went on to explain the design philosophy behind the new wonder box. The system would contain a custom 8-core AMD processor with an integrated graphics APU, along with a "next-generation" AMD Radeon graphics processor capable of pushing 1.84 teraflops of data.

The system will also contain 8GB of dedicated GDDR5 RAM, along with the standard components of HDMI, 802.11 b/g/n Wi-Fi, Bluetooth 2.1, Blu-Ray drive and optical digital output among others. The system would also contain USB 3.0 ports, and will be shipped with a Mono Headset by the end of 2013. The spec sheet clearly showed that the PS4 was a beast of a console, able to go toe-to-toe with some of the most powerful gaming rigs of this generation.

Surprisingly enough though, the system was never shown at the press conference, which baffled all those that had tuned in to watch the event.

Next came the unveiling of the new system’s standard controller unofficially dubbed the ‘DualShock 4.’ The model was in line with the standard PlayStation controller, but with a few changes to its systems. Firstly, the directional pad has been changed, with each of the buttons being increased in size for greater control and accessibility.

The analogue sticks have also seen a change, going from the standard convex design to the more-recent concave grips that have been made popular by the Xbox. The inward grooves of the analogue sticks make it easier to control, with the thumbs fitting in squarely between them.

The biggest change to the design was the inclusion of a trackpad on the face of the controller where the Start and Select buttons formerly resided. Other additions include a Light Bar situated between the shoulder buttons, which Sony states would be used in conjunction with a stereo camera to detect player movement and identify different players, a headphone jack on the bottom, and a new Share button that provides the ability to share videos with other players through the social networks tied to your system.

The controller’s design features a sleek and elegant matte and gloss finish, and looks to be as ergonomic as the DualShock series while improving on the ways players will be able to interact with the system.

Next came the presentation on the social and network-based aspects of the PS4. Here, Sony reiterated the many cloud-based features of the new system under the banner of PlayStation Cloud. Through a host of cloud-based gaming services, players will have instant access to any game on the PS4, being able to instantly try games they would want from the PlayStation Store.

This functionality would work through a smart computing system where the console would be able to download and keep small portions of the games you are interested in based on past gaming history, games your friends are playing, and similar elements.

Sony also announced that it was partnering with UStream to integrate key game streaming features into its systems. The PlayStation Cloud service will also allow players to remotely access their systems through a PlayStation Vita and certain smartphones and tablets. These features have excited many, since it opens the doors for backwards compatibility, along with being able to play almost any game from Sony’s vast library of three generations on mobile devices.

Of course, what press event is complete without a strong line-up of games? During the PlayStation 4 event, Sony brought on stage plenty of its first- and third-party developers who had a whole slew of content waiting for eager audiences.

Many people had been anticipating some solid titles, and were met with a few surprises along the way too. Some of the announced games were Knack, a fun little platformer; Killzone Shadow Fall, featuring real-time interaction with the system; Infamous: Second Son, a sequel to the Infamous franchise that shows to have escalated matters within the franchise.

Famed game designer Jonathan Blo’s The Witness, a timed-exclusive for the PlayStation 4; and DriveClub, a new racing game. Ubisoft showcased a demo of Watch Dogs, Blizzard Entertainment executives also came up to announce their new partnership with the PlayStation brand, and revealed that Diablo III was currently in development for both the PS3 and PS4. And finally, Bungie Studios took the stage to reveal Destiny, their newest first-person shooter.

And with that came the end of Sony’s media briefing. It was a big day for the company, as news of their new hardware and upcoming titles and services spread like wildfire across the internet. Even with the numerous rumours and leaks that had circulated before, there were plenty of surprises to witness, and Sony’s marketing strategies paid off successfully in generating buzz for their newest machine.

The world got its first look at the new controller and peripherals that would come bundled with the system, the new user interface it would utilise along with a host of services available, and a slew of developer support affirmations and games that were promised for its holiday launch.

The company was also smart to reveal as much information as was necessary to generate hype, while still leaving certain aspects such as console build and pricing a mystery for other events throughout the year.

Ultimately, the word was officially out and the stipulations had all become a reality – the PlayStation 4 was finally here.