Sony Drops Price of PlayStation 4

There’s going to be some real competition for holiday gifts this year. Sony on Monday announced that PlayStation 4 will cost $399, $100 less than Microsoft’s Xbox, currently the best-selling gaming console in the U.S. Speaking at the Electronic Entertainment Expo (E3) in Los Angeles, Sony president and CEO Jack Tretton got cheers when he said the PS4 will not have any restrictions on used games—one of the key criticisms against Xbox. The new PS4 will also not require the Internet for authentication, another one of the things Xbox needs.