The machine will cost £349 when it hits retail stores in the UK.
The announcement was made at Gamescom 2013 in Cologne, Germany.
Sony also announced discounts on key launch titles including Assassin's Creed IV and Call of Duty: Ghosts offered at a 'significant discount' for PS4 if a user already owns the PS3 version.
Microsoft has already announced that it will release the Xbox One in November priced at £429, but didn't give a specific date.
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