Electronics maker Sony (NYSE:SNE) revealed more details about its next-generation PlayStation 4 entertainment and gaming console Monday.

At its press conference at the Electronic Entertainment Expo (E3) in Los Angeles, Sony announced it will price its console at $399 for its release this holiday season in North America. The company also announced [link opens in PDF] a 399-euro price for a holiday release in Europe.

The price comes in at $100 less than the announced $499 U.S. price of Microsoft's competing Xbox One. Microsoft also plans to launch its rival console during the holiday season, as it announced today during its own E3 conference.

Sony also revealed the hardware design of the console at E3 on Monday, as well as noting that SCE Worldwide Studios is planning on releasing 20 new PlayStation 4-exclusive game titles to the console within a year of its launch. The company added in details regarding its PS Plus community, saying that the service will continue offering game discounts, cloud saves, patch downloads, and other perks for customers.

Jack Tretton, Sony Computer Entertainment America president and CEO, talking about the appeal of the PlayStation 4 in the next-generation console, was quoted by the company as saying, "What's ... exciting for us ... is transforming the PlayStation ecosystem into a stronger, more vibrant destination that enables gamers to engage, share, play, and connect on their terms."

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