PlayStation 4 will cost $399

Sony has announced today that the PlayStation 4 will cost $399 in North America.

In other regions, the PlayStation 4 will cost €399 in Europe and £349 in the UK.

The PlayStation 4 will retail for $100 less than Microsoft's Xbox One, which will cost $499/€499/£429. The PlayStation 4 will launch this holiday season, but Sony did not date the PlayStation 4. Microsoft's Xbox One will launch in November.

Preorders for the device will likely begin imminently at major retailers.

Elsewhere in Sony's E3 2013 press conference, Sony confirmed that the PlayStation 4 would not require an online check-in and would support used games, and it unveiled the first look at the hardware.