At their E3 2013 presentation, Sony showed off the long awaited look of the new system.

The console is slightly larger than the most recent iteration of the PlayStation 3, with

a sleeker and sharper design, featuring all the bells and whistles of a state-of-the-art

piece of hardware.

Described as "sleek and visually impactful wherever it is placed.", the new PS4 includes

an equally stunning redesigned PlayStation Eye that was featured at the Sony PlayStation

event earlier this year.

The PS4 features full connectivity with Sony's PlayStation Vita, allowing you to play games

via remote play over wifi. Sony has requested all developers include remote play in all

PS4 game titles.

Sony also made a point to advertise that the PlayStation 4 fully supports used and borrowed

games, the PS4 doesn't require an online connection, and there's no authentication required. PSN

accounts will transfer over to the PS4, however playing games online will require a PlayStation

Plus account.

But the biggest question on everyone's mind was saved for the end of the conference. Everyone

wants to know, what's it going to cost? Sony revealed that the PlayStation 4, which arrives

this holiday season, will be priced at $399 USD, 399 Euros, and $349 Pounds Sterling.

20 percent less than the Xbox One.

We will keep bringing you all the news, gameplay, and impressions with full live coverage of

E3 all week long, so keep it locked...this is IGN.