PlayStation 4 (PS4) is a video game console from Sony Computer Entertainment. Announced as the successor to PlayStation 3 during a press conference on February 20, 2013, it was launched on November 15, 2013, in North America, and will be launched on November 29, 2013, in Europe and Australia. It competes with Nintendo's Wii U and Microsoft's Xbox One, as one of the eighth generation of video game consoles.
Moving away from the complicated Cell architecture of PlayStation 3, PlayStation 4 features a simpler AMD processor, in hopes of attracting a broader range of developers and support for the system. Sony intends more focus on social gameplay, incorporating a "share" button on the new controller and enabling a view of in-game play streamed live from friends. The console enables interactivity with other services and devices through the following methods: Gaikai, a cloud-based gaming service that offers streaming video game content; PlayStation App, designed to enhance gameplay by utilizing smartphones and tablets as a second screen; and PlayStation Vita's design for playing a majority of PlayStation 4 games through wireless Remote Play.
Source: Wikipedia, "Playstation 4", available under the CC-BY-SA License.