Sony's PlayStation 4 is set to cost $399 ($100 less than the Xbox One). The initial model will come with 500GB of storage, with other versions set to be announced.

• Cost: $399 / £349 / €399
• Used and borrowed games can be played
• No online access required
• Playing games online requires paid for PS+ account

Sony started with Beyond: Two Souls and The Last of Us for PlayStation 3.

As for the PlayStation 4 games, here they are:

Gran Turismo 6

Batman Arkham Origins

The Order 1886

Killzone Shadowfall

Driveclub

inFAMOUS Second Son

Knack

Transistor

Oddworld new n tasty

Final Fantasy Versus XIII

Kingdom Hearts 3

Assassin's Creed 4 Black Flag

Watch_Dogs

The Elder Scrolls Online

Mad Max

Destiny

Want to watch the entire conference?

PlayStation E3 Press Conference 2013