The rumors have been swirling that both Sony and Microsoft's next-generation consoles will be anounced this year.
The Verge reports that although Microsoft has already initiated a special announcement that it will make at E3 2013, Sony has now one-upped its competitor and confirmed that a special presentation will occur on February 20.
The announcement could be any of a wide range of things, but it's almost certain to be the official reveal of the PlayStation 4 console. Sony posted this video which looks like a teaser for the next PlayStation (code-named Orbis). If the “Sony’s going to be conformist and Microsoft is going to be the technical powerhouse” rumors are true then the price alone may really help Sony.