E3 is now well and truly underway, and Sony have revealed when we can expect the Playstation 4 to arrive, and how hard it will hit our wallets and purses. In a complete turnaround from the last generation Sony’s machine is going to be cheaper than Microsoft’s Xbox One, launching with an RRP of £349 ($399), making it £80 ($100) cheaper than its competitor.

It’s still pretty expensive considering the economy at the moment and how little spare cash people have in their pockets, but there’s no denying that the price gap between the consoles is going to make a difference in early sales. Last generation the Xbox 360 had a major advantage due to its considerably more appealing price-tag, though obviously the fact that it launched well ahead of Sony’s offering helped massively.

When can you expect the PS4? Sometimes this Holiday Season, apparently. And it’s going to be packing a 500GB HDD, putting it on even footing with the Xbox One in terms of physical storage.