29/03/2012 05:24 BST | Updated 28/05/2012 06:12 BST

New Playstation 4 Will Be Called Orbis

The highly anticipated new Playstation, the Playstation 4, will be called Orbis according to rumours stemming from Kotaku.

Kotaku reports that it will launch in time for Christmas, and will pack features including the AMD x64 CPU and AMD Southern Islands GPU, or graphics processing unit. This GPU is considered the next generation of powerful processors for fast, rich gaming.

As none of this information is confirmed by Playstation, Orbis could be a working title. The Verge notes that orbis vitae is Latin for circle of life.

Since the company has just released the Playstation Vita, this name would continue along a Latin them and could make its way into production.

The new Playstation 4 Orbis could be designed to increase gaming revenues and stem the used games market, according to The Verge. They report that games could be locked to individual Playstation accounts, raising questions for existing games owners.

If the Orbis rumours are true, more information on the new gaming console may well start to leak out as games developers start working on test units.