The Times have discovered through leaked documents that the PS4 will be launched at a price of about $465.
This is a significantly lower price compared to the PS3 which initially retailed for about $600.
The console is expected to arrive in Japan and the United States in the last quarter of 2013.
The Wall Street Journal recently reported that the PS4 will ditch the Cell processor for an AMD chip.
Another novelty will be the incorporation of touch capabilities in the device’s controller.
On Wednesday, February 20, Sony will be holding an event where they are expected to reveal the first official details of their new console.
Source: CBS News