There are reports emerging that the next PlayStation is set to be released in 2013, in time for the holiday season.
The report, from Kotaku, also states that the working-title for Sony's next machine is Orbis (which interestingly means 'circle', and when combined with Vita it spells out the popular latin phrase Orbis Vitae - which means ‘the circle of life') and also lists some possible specifications for the long-rumoured machine, suggesting that the new console will support an AMD x64 CPU and an AMD Southern Islands GPU.
Kotaku's source also suggested that the Orbis will not support back-compatibility with the existing catalogue of PS3 games, and that Sony will tighten up on the second-hand games market by attaching purchased titles to specific PSN accounts in a bid to reduce the amount of games being traded in. It was also suggested that gamers buying second hand will have to buy an unlock key to access full content, a system being used more and more often.
Finally, the report details a likely 2013 release, and suggests that select developers have already started getting their dev kits. Whilst Sony is most certainly developing a new console, predictions regarding their planning have been proved wrong before, so even though Kotaku describes their source as "reliable", both the name Orbis and the suggested release date should be considered as speculation until officially confirmed.
Sony has spoken only to decline to comment.