Sony: PS4 will be priced better than PS3

The upcoming PlayStation 4 will have a better launch price than the PlayStation 3 did, Sony's vice president Michael Denny has suggested.

The PS3 had a regular retail price of £425 GBP when it first launched around the world, and consumers were initially slow to take to the new hardware.

Now Denny has hinted that lessons have been learnt from the PS3 launch, and the PS4 will be priced more appropriately to appeal to a wider audience.

"There's plenty of time, we've got lots of information yet to give out on PlayStation 4," he told Edge.

"The initial announcement phase that we're in now is just to explain the vision to everybody. Part of that vision is we have created a console absolutely focused on gamers - and we want that to be gamers in the broadest sense as well. I think to some extent I can ask you to draw your own conclusions."

Denny also outlined Sony's vision for the PlayStation 4.

"We want a system that can reach as broad a gaming audience as possible but whilst being a system that's deep, connected, rich and immersive and is going to give a very focused and differentiated experience than anything else that's out there," he added.

The PS4 has been given a "holiday 2013" release date, but regions have not been confirmed.