[UPDATE]: Sony's briefing has concluded. For more on the show, check out GameSpot's Gamescom 2012 coverage page. The original story follows below.
Sony has made a habit of using Gamescom to make headlines. Last year it cut the price on the PlayStation 3 hardware. In 2010, Sony used the show to announce new installments in the Ratchet & Clank and Resistance franchises. And in 2009, the big news out of Gamescom was the unveiling of the PS3 Slim.
One of the big rumors heading into this year's Sony Gamescom conference is that it will once again see the unveiling of a redesigned PS3. Last month, a Sony filing with the Federal Communications Commission revealed plans for a new version of the console, and a Brazilian regulatory filing actually included pictures of the still-unannounced system.
Beyond hardware, Sony will no doubt be showing off its software lineup at Gamescom. Activision is reportedly using the German trade show to take the wraps off the PS Vita-exclusive Call of Duty Black Ops: Declassified, and Sony fans will no doubt be hoping to hear more about some of the games featured in the company's Electronic Entertainment Expo briefing, including Beyond: Two Souls, The Last of Us, and God of War: Ascension.