Update: It appears that the announcement was indeed the $99 Playstation 2, as reported by ShackNews.

The internet world is currently buzzing with the rumor that Sony will be making an important announcement concerning the Playstation tomorrow.

The rumor was first posted on Smarthouse, and was later confirmed by Kotaku who was contacted directly by Sony to confirm an announcement was coming.

There are quite a few ideas and theories as to what Sony is planning to announce. Some people reckon a PS3 or PS2 price drop, whilst some commentators joke that it might be the PS4. What can be assured however is that the truth will come out tomorrow.

Expect updates soon.