We've Got Hollywood Covered

E3: Sony’s PS4 Undercuts Microsoft’s Xbox One by 100 Bucks (Video)

The PlayStation 4 further distinguished itself from the other next gen console by assuring gamers of no restrictions on disc lending and trade-ins

Hours after Microsoft announced it will be pricing Xbox One at $499 earlier on Monday, it was Sony's turn at the E3 podium. At its press event, Sony unveiled the PlayStation 4, which it said will retail for $399. Do the math kids — that's a cool $100 less than the Xbox One. Advantage: Sony?

Sony also revealed that there are currently 140 games in development for the next-gen console, 100 of which will be available within the first year of release.

Also read: 'Halo 5' Trailer and Xbox One Price Point Revealed at E3

The company made another important (and pretty funny) distinction between itself and the competition's product. Sony assured the gaming community that the PS4 would support used games, allow for easy lending of discs and would have no online requirements to play single player games. The announcement is in stark contrast to Microsoft, which recently announced major restrictions on loaning and trading in discs.

The satirical video, showing how to loan your friends PlayStation 4 games, has over two million views in less than a day. Watch below.

Gamers have the option of preordering PlayStation 4 on Amazon, which lists the release date as December 31, 2013. Here are the Key Features from the online retailer:

·       DUALSHOCK 4 controller with touch pad, three-axis accelerometer and three-axis gyroscope, and rechargeable battery

·       Two high-sensitive cameras with 85-degree diagonal angle views for enhanced depth perception

·       Compatible with x86 architecture to make video game development easier on the next-generation console

·       Controller connection via Bluetooth 2.1 + EDR

·       802.11 b/g/n wireless network connectivity, Ethernet, and USB ports

Please fill out this field.