The much-anticipated Sony PlayStation 4 (Sony PS4) could be released within a month if the latest reports are to be believed.

Sony PS4 is likely to be released in May ahead of the E3 event in June, reported Tech Hunter, quoting a source. PCMag also quoted a source claiming that Sony's next-generation gaming console would be announced either in April or early May.

Several sections of the media have reported that Sony PS4 would be unveiled at the upcoming E3, the world's premier trade show for computer and video games which will be held from 11-13 June at the Los Angeles Convention Center. It is also rumoured that the console would be available in October in the US.

However, Sony Worldwide Studios' vice president Michael Denny was tight-lipped about about the Sony PS4 release date in spite of being repeatedly asked at an interview with a magazine.

"...we know our launch date, and we think it's very important that gamers receive that new console experience. With that in mind, we just thought it was the right time to set the vision and set the agenda in New York," Denny told Edge magazine.

Michael Hogan, executive vice president of strategy business and brand development at Gamestop, reportedly told investors that the device would be released this year.

"We know that Sony will introduce the PlayStation 4 globally in 2013, but we are still waiting to see what Microsoft's final plans are. We have scenarios with one console introduction, as well as with two. Even a single launch in 2013 will drive double-digit console growth in 2014; and two launches would likely drive the console category north of 20% growth," XbitLabs quoted Michael Hogan as saying to analysts during a conference call.

Newtechnology.co.in had earlier reported that Sony PS4 would be available in India in the first quarter of 2014 and would be priced around ₹25,000.

Sony had earlier revealed some specifications of the new console at an event in February, followed by revelation of the 'mock-up' designs of the PlayStation 4 (Sony PS4) controller and eye at the recently concluded Games Developers Conference (GDC) 2013 in San Francisco, California.

Here are specifications of Sony PS4:

CPU: single-chip custom processor, x86-64 AMD "Jaguar" 8 Cores

GPU: 18 "compute units" capable of cranking out 1.84 TFLOPS, AMD next generation Radeon based graphics engine

Memory: 8GB GDDR5 RAM capable of 176GB/sec of bandwidth

Connectivity: 802.11n WiFi, USB 3.0, Bluetooth 2.1, Auxillary ports, Analog AV, and digital optical outputs and HDMI

It is reported that Sony PS4 DualShock 4 controller has been remodeled and cloud gaming technology would be introduced. It is expected to be priced between $400 and $500 upon release.