The new PlayStation 4 reflects Sony Corp.'s renewed focus on value-added products to attract selected customers rather than the general public, as the company struggles to turn its slumping electronics business around.

In unveiling the successor to the PlayStation 3 launched in 2006, Sony Computer Entertainment Inc. President Andrew House highlighted the PS4's enhanced network functions, which allows users to upload a video of their play to social networks midgame.

"We will show you how we are strengthening the PlayStation ecosystem" through hardware, software and network capabilities that create "truly magical experiences that can only be found in our world," House said at an event in New York on Wednesday.