(Image source: Kotaku ) BY BRIAN BONDUS ANCHOR MEGAN MURPHY It’s taken seven years, but Sony is expected to announce its fourth generation gaming system Wednesday evening in New York. Expected upgrades include a new controller with a touchscreen, a Move-style motion function, and a built in microphone. Some are calling it one of the biggest changes to the gaming world. “We're expecting to see a big move online, perhaps even all games being played and stored online... instead of in your console. What's likely holding them back is internet connection speeds.” The reporter goes on to say games use a lot of bandwidth and can look jerky when played online. But despite these limitations, online is where Sony seems to be heading .  Last year the company paid $380 million for the Japanese  could-based company Gaikai. It streams games to a monitor/TV. “It basically could have made the idea of a ‘console’ obsolete … Suddenly iPads, Android tablets and mobile phones are capable of playing PlayStation games. It’s unlikely, but a tantalising prospect.” It’s likely the next PlayStation will not be able to play older console’s games, but with this new streaming technology users could theoretically stream first, second, and third generation PlayStation games. The Economic Times says this release for Sony is big. It notes this could be a pre-emptive strike in the next generation gaming systems against Microsoft’s Xbox. Currently Xbox has a larger U.S. market share than Sony. Sony is expected to price the new gaming system between $400-$500 and is expected to make it available by Christmas time.