Sony: New lower price for PlayStation 4

PS4 does not require constant online connection

LOS ANGELES - Sony broke out the heavy ammunition Monday against Microsoft, announcing its forthcoming PlayStation 4 will cost $399 -- $100 less than the competing Xbox One.

The price announcement wasn't the only shot fired at Microsoft during Sony's presentation at the Electronic Entertainment Expo, the gaming industry's annual U.S. trade show.

The loudest applause at the company's event came when Jack Tretton, president and CEO of Sony Computer Entertainment America, announced that the company would not try to restrict used game sales.

Tretton also said the PS4 would not require a persistent online connection. Sony is giving gamers their first look at the PlayStation 4 -- and it's a rectangular black box, just like all the previous PlayStations.

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