Sony rumored to launch PlayStation 4 in November for $429, $529

With Sony's Playstation 4 event set to take place later today in New York City, the rumors surrounding the next-gen console for the company are circulating faster than ever with the following details having just been overheard.

According to the gaming blog Kotaku, which claims to have sources who know of Sony's plans, the company will be releasing two different versions of the Playstation 4 for $429 and $529, respectively. The rumors also suggest that the next-gen device may be released as soon as November, arriving just ahead of the 2013 holiday season.

The latest round of rumors pile on top of what folks have been speculating for months, including the reports that the PS4's computing power will stem from the AMD processor rather than the the Cell chip that's currently found in the Playstation 3. Other rumors contend that the new device will be able to stream older PS3 games over the web while the controller will allow for a new touchpad, enhancing gameplay abilities for the user.

Fans are hoping that many of these rumors will be clarified when the Sony Playstation event begins at 3PM (PT) later today.

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, Orlando Video Games Examiner

Current Editor-in-Chief of GeekRest.com, providing news coverage and valuable editorial insight into all aspects of popular culture, including video games, comic books, movies and more.

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