03/29/2012 12:21 pm ET

PlayStation 4 'Orbis' Rumors Point To 2013 Release

Attention all PlayStation fans: Sony's next PlayStation release might be here by next year, and rumor has it the new device is codenamed "Orbis."

According to a March 28 report by Kotaku, a reliable source shared what might be the PlayStation 4's new name and that its launch is planned for the 2013 holiday season.

This release date seems earlier than what might have been expected.

Sony CEO Kaz Hirai said at the Consumer Electronics Show back in January that the PlayStation 3 (PS3) will be around for a few years more. "I've always said a 10-year life cycle for PS3, and there is no reason to go away from that," the recently-appointed chief stated, according to the Wall Street Journal. While it hasn't been 10 years, if you can believe it, it's already been six since the PS3 hit shelves in November 2006.

Whenever the company plans to unveil its next gaming console, it's certain that the system will come with some big upgrades.

However, Kotaku's source reported that users won't be able to play PS3 games on the next PlayStation. In addition, gamers may have to jump through hoops or at least pay a fee just to purchase and play the full version of a used game. Other sources told Kotaku that "the Orbis will likewise have some kind of anti-used games measures built into the console [...] [I]t's believed used games will be limited to a trial mode or some other form of content restriction, with consumers having to pay a fee to unlock/register the full game."

This last report contradicts GameStop CEO Paul Raines' claim that the PlayStation 4, along with the Xbox 720 and Wii U, isn't likely to block used games.

“We think it’s unlikely that there would be that next-gen console because the model simply hasn’t been proven to work. Remember that used video games have a residual value. Remember that GameStop generates $1.2 billion of trade credits around the world with out used games model,” said Raines in a March 22 earnings call, reported by Digital Trends. “So consider taking used games out of that, you’d have to find new ways to sell the games, and our partners at the console companies have great relationships with us.”

Head on over to Kotaku to see what other specs they've dug up on the PS4, and let us know what you think of the latest PlayStation gossip in the comments.