Various news outlets are reporting that Sony Computer Entertainment has announced that they will unveil the PS3 before the end of 2004. Ken Kutaragi, who is the president of the company, outlined Sony's plans to debut the unit this fiscal year, and to have the system playable at E3 2005, which will be held in May.

No other information is available thus far, but after a huge announcement like that, it looks like the cat is out of the bag and there will be a lot more news in the coming months.

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