PS4 vs. Xbox 720 Release Date 2013, Specs, Price: Sony is already leading Microsoft in the next-gen console wars, and according to recent reports the Japanese company is planning another event ahead of E3 2013 in June. Read on for more PS4 vs. Xbox 720 release date 2013 news, specs and price rumors.

The PS4 vs. Xbox 720 release date race is on, and although Sony already has a healthy head start against Microsoft it looks like gearing up to make another big announcement ahead of E3, where the two companies are both expected to unveil the their next-gen consoles and duke it in front of the world.

According to PC Mag, the PS4 vs. Xbox 720 release date war is about to heat up. Damon Poeter reports that "a source familiar with the company's marketing strategy" revealed that Sony is planning another "big announcement" either this month or in early May.

Sony already kicked off the PS4 vs. Xbox 720 release date race last February with a special event in NYC, but all gamers got to see then was the redesigned controller and a few scenes from upcoming games. No console and no price were revealed.

That may be about to chance as Sony puts the pressure on Microsoft to catch up in the PS4 vs. Xbox 720 release date race.

"But Sony may be parceling out information about its coming game console to build up buzz, according to the source," adds Poeter. "Some industry watchers anticipated another reveal or at least some PS4 news at last week's Game Developer Conference."

Don't rule Microsoft out in the PS4 vs. Xbox 720 release date race though. PC Mag notes that the Virginia-based company is rumored to be preparing for a big event of their own later this month. The one thing we (almost) know for sure is that both companies are preparing to unleash their redesigned consoles at E3 in June 2013.

But when the PS4 vs. Xbox 720 release date race finally comes to an end will there be any real difference between the two consoles? According to Ubisoft senior developer Yannis Mallat, Microsoft's redesigned system will boast many of the same specs and features that Sony has already promised.

"It's going to be connected," he told Eurogamer (via nowgamer.com). "It's going to be social. It's going to be immersive. It's going to be interactive."

"Rumours suggest Xbox 720 will require a mandatory Kinect, have a new controller and could pack in a TV tuner to be sold on a subscription model, with a reveal set for the coming months," adds Now Gamer's Alex Evans.

So in the PS4 vs. Xbox 720 release date battle, which console should hard-core gamers be more excited about? Sony has already taken an early lead. Their redesigned console has been called a temple to gaming. Meanwhile, indie video game developer and demi-god Jonathan Blow (who unveiled his latest game at the PlayStation's event) accused Microsoft of caring less about gamers than its Japanese competitor in a recent interview with Edge.

"To me they talk about a console that is not strictly about games," said Blow, who's PlayStation exclusive "The Witness" will debut this fall alongside the PS4 release date. "It's trying to be the center of the living room device, which is fine and maybe it's the right thing for Microsoft to do, business-wise."

However, Blow's decision to side with Sony rather than Microsoft in the PS4 vs. Xbox 720 release date war appears to stem from an earlier negative experience with the Virginia-based company, rather than his opinions of the upcoming consoles.

"I've had a bad time working with Microsoft in the past," Blow said. "Maybe not super bad, but a moderately bad time in terms of business relationships. Other developers who are friends of mine have had a horrible time, so the idea of signing up again with Microsoft isn't something I'd have ruled out, but there's a certain amount of dread I have about doing that again. I don't have that with Sony. Who knows, maybe it'll turn out to be just as bad at the end! But I don't think so. The people we're talking to on a daily basis there are just really good people, and we're happy to work with them. We'll see how it goes."

So in the end, is the Xbox 720 vs PS4 release date battle a race, a game of chicken, or just a choreographed dance? Despite clear competition between Sony and Microsoft, the two tech titans may launch their redesigned consoles at the same time this fall in a clear case of industry collusion.

According to MCV UK, the Xbox 720 and PS4 release dates will likely "align." The article sources a meeting between EA and its investors during which a representative of the company revealed that both redesigned consoles will hit stores at the same time this fall 2013.

The Xbox 720 vs PS4 specs battle was also brought up by EA. Apparently, both redesigned systems will be eight to ten times more powerful than their predecessors, PlayStationLifeStyle reports

"We no longer have to constrain our games," EA revealed. "1080p, 60fps... [there will be a] level of gameplay that is unprecedented."

Sony PS4 Specs:

-8GB of RAM

-1.84 teraflops

-Backwards compatibility uncertain

-Blue-Ray

-May block used games

Microsoft Xbox 720 Specs:

-8 GB of RAM

-1.23 teraflops

-May block used games

-Rumored Blu-ray drive

-No backwards compatibility

-May require Kinnect to play

PS4 vs. Xbox 720 price speculation:

For now, the price for the both PS4 and Xbox 720 remain closely-guarded secrets. Sony witheld the information at their special event last February, sparking fears among gamers that they could be facing another astronomically expensive PlayStation launch price.

But don't despair yet, it's entirely possible that both the PS4 and Xbox 720 price could be less than $400. On Reddit, an anonymous console developer reportedly leaked pricing information, claiming that both Sony and Microsoft can sell their consoles for this moderate price while still raking in a profit, OXCGN reported. The alleged insider added that both systems will likely range from $300 to $350 in cost.

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That's all the Xbox 720 vs PS4 release date news, specs and price rumors we've got for now, but come back soon for all the latest updates as Microsoft and Sony continue to duke it out in the next-gen console war.