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PlayStation 4 will cost $399 in the US, will release this holiday

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PS4 release date and price revealed

The PlayStation 4 will launch at $399 in the US, €399 in Europe and £349 in the U.K. and will release this holiday, Sony announced at its E3 press conferenced today.

The PlayStation 4 was first announced in February of this year and will ship with a new controller — the touch-sensitive DualShock 4. It will also feature connectivity with second screen devices like tablets and mobile phones and a "Share" button that allows users to capture and share video content from their games.

The console will integrate streaming technology through Gaikai in 2014, which will allow PS4 users to instantly try out games without having to download the complete versions before being able to play.