E3 2013: PS4 priced at $399, £349

Sony has revealed the price tag for the PlayStation 4 console.

The PS4 costs $399, £349 in the UK, or €399 elsewhere where relevant.

Microsoft revealed its price point earlier today, with the Xbox One fetching a $499 price tag in the US.

This puts the PS4 a full $100 cheaper than the Xbox One, with cross-platform compatibility with the Vita and no restrictions on used games.

On the other hand, a PlayStation Plus subscription of $5 a month is now required for online multiplayer games, but one account will cover PS3, PS4, and PS Vita, and comes with the same discounts and free games the service is known for.

No release date has been announced for the console.

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