While we still don't have a date for release, Sony has officially confirmed that the PlayStation 4 will cost AU$549 at launch this holiday season.
The PS4 retails for US$399 / £349 / €399 in other parts of the world - all prices notably cheaper than the Xbox One.
Also, in case you missed it: Once you buy a PS4 game, it is yours to do with as you wish, which includes playing it, selling it, or lending it to a friend - and that's all without any restrictions from Sony. One restriction that is included with the new console: You will need a PlayStation Plus account for any multiplayer activities.
More details to come.