Sony earlier noted that it didn't expect to take so big a hit with the PlayStation 4 like it did with the PS3, as its move toward PC architecture that is at once "supercharged" and easier to work with would certainly have its advantages. It's also allowed them to produce a console that will offer a much better value than the PS3, or at least that's how it looks with the $399 USD and €399 price tag that Sony announced at its E3 2013 conference. The PS4 meanwhile will be priced at £329 when it launches in the UK.
That's cheaper than the Xbox One's launch pricing, and a hell of a lot cheaper than the $599 USD that the PS3 launched at (can't afford it? Get a second job!). So when is it launching? Sony is currently slating the PS4 for a holiday launch, perhaps unsurprisingly. Gonna be a busy season. The electronics and console giant has also sweetened the deal by confirming at the conference that the PS4 will lack any sort of DRM measures designed to limit/prevent the resale or trading of games. There's also no online requirement for the PS4 if the game doesn't need to go online, so no 24 hour offline limitation, but keep in mind that the PS4 does require a PlayStation Plus subscription for online multiplayer.