Sony were the first to release details of their next generation console last night as battle for Christmas's big buy ramps up.
Its the moment that many gamers have been waiting for, late last night at the Gamercom press conference, in Cologne, Germany , Sony announced the date that the world will welcome their latest console, the PS4.
The next generation games console will be released on 29 November and cost £349 when it hits retail stores in the UK, initial forecasts suggest that over one million of the machines have already preordered as the battle for market share heats up.
With these numbers likely to grow further now that a date has been set its almost certain that demand will outweigh supply and many could be left without the console until well into the Christmas period.
For those gamers in the US, they will be able to get the console slightly cheaper at $399 and also two weeks earlier than their British counterparts.
Competition in the industry is high, and among those attending the event were major games companies including Microsoft and EA who made their next-generation pitches to the audience, with the former confirming that a free copy of FIFA 14 will be included in every Xbox One console pre-ordered before launch, which is expected at a similar time to the PS4.
By showing their hand early, many believe that the decision to name a date will play into the hand of main rivals Microsoft, whose Xbox One console has come under much scrutiny in recent weeks, technology expert Seth Barton of website Expert Reviews said: "From Microsoft's point of view it looks pretty good.
"I think Microsoft will probably want to get in first and launch a week or two before Sony just to claw back a bit of an edge.
"If you've got a PS4 pre-order you will definitely get one for Christmas, but if you haven't then that boat has sailed and you haven't got a hope of getting one, and then you might end up getting a Microsoft instead.
Sony have also announced that many of their flagship games will be released alongside the console including Grand Theft Auto 5, Call of Duty: Ghosts, FIFA 14 and Assassin's Creed 4.