PS4 priced at $399 USD/EUR

Sony has announced it will launch the PS4 and it will cost $399 USD/EUR and £349 GBP, undercutting the Xbox One by a hefty margin.

Furthermore PS4 supports used games and will continue the disc based game model. Great applause ripped through the audience putting more pressure on game publishers to thrash out an agreement with stores on the used game market issue.

It was also announced that there would be no online connectivity required. If you enjoy playing single player games offline, PS4 won't require you to authenticate it.

This, along with the other features we've already heard about, such as playing games as they're still downloading.

In addition to this, those with a PS + membership can rest easy, your membership will carry over to PS4.
If you're a Plus member you get discounted games, cloud saves, automatic game update and early accost to beta programs, instant game collection and online services.

For members you get immediate and free access to Drive Club. In addition to this, you'll get a new title for free every month for the first year.

Cloud service available in 2014 - streamed using Gaikai technology. This will allow PS3 and PS4 gamers, as well as PS Vita gamers (later) to access a huge back catalogue of games. This is effectively on demand gaming, for the future.

$399 USD… What you gonna do, Microsoft?