The latest PS4 has been receiving much hype and attention. Following the release of its competitor, Xbox One, all eyes are on Sony (NYSE: SONY) to see what the company will bring on the table. Reports indicate that Sony is trying its hardest to deliver possibly the best gaming console on the market yet.

Sony wants to make sure that PS4's release and reception goes smoothly and successfully as possible. The gaming console's CPU and GPU go beyond its competition while the high-quality GDDR5 memory takes gaming to a whole new level. Sony is well aware that their next PS4 will add something valuable to the table.

The company earned every right to claim they have the most powerful gaming device yet. Fergal Gara, Sony VP and managing director, said in an interview to Techradar: "But secondly to design a piece of technology like that it's very easy to deliver one or the other, in particular I'm talking about the price and the performance trade off. It's very hard to deliver both and for me the balance that's been delivered across those two is outstanding. "

"So it's great to be going to market with what we believe is the most powerful gaming device ever conceived and certainly ever developed and at a price that feels very acceptable, certainly based on the pre-order volumes that we're seeing, " Mr. Gara added.

Sony is not stopping there. The hardware also caters to developers with X86 architecture. This allows the device to channel memory in one unified unit. Prices for the consol start at $399 in the United States.

PS4 sounds impressive but the market is not dominated just by being the best hardware. In fact, the best hardware always finds it hard to win the generation. Nintendo 64 was a standout and even had a better hardware compared to PlayStation 1 but PlayStation outsold it by 3:1. Sony PlayStation 3 had the best features but it was Nintendo's Wii that became a household staple all over the world.

The latest PS4 is one gaming console hard to miss. However, Sony will have to make sure it has a generation to cater to.