Sony "in a much better position" with PS4

SCEA president Jack Tretton excited by system's price point and release window relative to PlayStation 3.

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Sony is in a "much better position" with the PlayStation 4 relative to its predecessor the PlayStation 3, according to SCEA president Jack Tretton.

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Speaking with CNN Money, the PlayStation executive said he is energized by the opportunity to launch the system at $400 this holiday alongside the $500 Xbox One.

"We're in a much better position. There are a couple of key factors: We came to market later than what proved to be a formidable competitor in the Xbox 360--that won't happen this time around," Tretton said. "We came to market at $599-- that's obviously not going to happen this time around."

"In spite of all that, we went on to sell 70 million units. There were a lot of lessons learned in things we did not want to repeat," he added. "I really relish the opportunity to come to market in a timely way at $399."

Following a "favorable reaction" to Sony's E3 showing last month, the company raised sales projections for the PS4, though specific projections were not disclosed.

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