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Earlier today, Sony officially unveiled their next-generation Playstation console, the PS3.

From all appearances, the console is very similar in size to the PS2, with a bit more of a rounded look. It will also be available in 3 colors: silver, black and white.

The also talked about the new processor technology they are using, which is the cell processor, and how it will offer movie-like realism in future games.

The PS3 will use the Blu-ray disc format, capable of holding 50 gigabytes of information, which is about six times the capacity of existing DVDs, as well as slots for memory cards, a detachable hard drive and Bluetooth wireless for up to seven wireless controllers.

The PS3 also will be able to run the thousands of games available for the older PS2 and PS1, officials said.

On Tuesday, we can expect to hear more from Nintendo about their next-generation console, the Nintendo Revolution.

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