The source also provided some specs, but we've heard these before: an AMD x64 CPU and an AMD Southern Islands GPU. Now let's point out one other small detail that may have not cropped up in the PlayStation 4 rumor mill before: AMD's support for BlueStacks. For the uninitiated, BlueStacks is an Android emulator for Windows 7 that allows the user to purchase and use Android apps from four markets, or import installed apps from their smartphone.
That said, given Sony's familiarity to Android, it's possible the company may be working with BlueStacks for a PlayStation version so that developers aren't required to create a PS4-specific version. This is speculation of course, but there's an underlying circle going on that may not be coincidental: Sony producing Android phones, AMD supporting an Android emulator, Sony using an AMD CPU and GPU in its console. The AMD GPU will reportedly support games at a resolution of up to 4096 x 2160, far exceeding the needs of most current HDTVs -- but obviously prepared for compatible 4K HDTVs which will eventually become standard in or sometime after 2013. It will also be capable of playing 3D games in 1080p.
So when is this console expected to arrive? Select developers supposedly received dev kits since the beginning of 2012, with revised and improved versions distributed during GDC. Finalized beta units are expected to be shipped to developers towards the end of the year, whereas the actual console may arrive on the market just in time for the 2013 holiday season. That means we'll probably see both the Xbox 720 and PlayStation 4 make their debut during E3 2013.
Source: Toms Hardware | BlueStacks Android emulator