The rumors regarding the PS4 release date will finally be put to rest when Sony officially announces its release plans for the PlayStation 4 today.

Citing a news update on their European website:

"For one week in August 2013, the Koelnmesse in Cologne, Germany becomes the centre of the gaming universe as the world's biggest publishers and developers invite you to check out the games that will light up the rest of the year and beyond."

"We'll kick off the show at 18:00 BST on 20 August 2013 with a briefing to media on our release plans for PlayStation 4, as well as updates on PlayStation 3 and PlayStation Vita."

For those who will not be able to make it to Cologne for Gamescom 2013, they can still watch the live streaming of the event HERE.

The game console has won lots of fans ever since its inception, and even more during the PS4's launch at the 2013 Electronic Entertainment Expo in June.

Sony's fairly-priced game console has also become quite a favorite among gamers -- having been priced $100 less than its rival, the Xbox One. According to the Inquirer, pre-orders for the game console have already been sold out earlier this month for those in the UK.

Another report claims that some retailers like Amazon and Toys R Us have already ended pre-orders as "the allocated units for the launch date have already sold out." However, a quick trip to Sony's US official website shows that the game console is still available at Amazon, Walmart and Target with PS4s still "in stock" which we take as "available for pre-order." The game console is also available at Sony, Best Buy and Gamestop. However, Sony advises those who are interested to check if game consoles are still in stock through their respective websites.

The PS4 has several games under its belt including Call of Duty, Killzone, Assassin's Creed and many more. To check out the full list of games for the console, click HERE. Some games are already available for pre-order.