Sony has revealed that the PlayStation 4 will be priced at $399. The console, which at launch will cost $100 less than Microsoft's Xbox One, will ship this holiday season in the United States and Europe — Sony stopped short of specifying an exact date (or month).

Sony says a second DualShock 4 controller will sell for $59, as will the PlayStation Camera — the new name for the PlayStation 4 Eye peripheral announced in February. The camera will not be included inside the basic PlayStation 4 package, whereas Microsoft will bundle a Kinect sensor with every Xbox One.

Earlier today Microsoft announced Xbox One will retail for $499 starting in November, setting the stage for a high-stakes battle that will see both console makers compete for shoppers throughout the holiday season and for years to come. Sony isn't wasting time in directing barbs at its rival: during this evening's keynote, SCEA president Jack Tretton emphatically stated the PlayStation 4 will not require online authentication checks to play offline games, and outlined Sony's intent to continue supporting the used games market. However, Sony will make PS Plus memberships a requirement for online multiplayer, offering automatic patch download and cross-platform membership accounts for PS4, PS3, and PS Vita. Subscriptions will cost $9.99/€6.99 a month in North America and Europe respectively.

But if that's not enough to sway gamers, Sony is also making a play for their wallets by undercutting Microsoft right out of the gate. The PS4 will also be region free and allow owners to upgrade hard drive storage, things that Microsoft has restricted in the Xbox One. With pricing now set in stone, Amazon, Best Buy, GameStop, and Walmart have begun taking pre-orders for Sony's next-gen console.