10 June 2013 Last updated at 14:23 ET
Microsoft waited till the end of its event before announcing the price
Microsoft has announced the launch date and price for its new Xbox One.
The new console will go on sale in November this year, with an recommended retail price of £429 in the UK, $499 in the US and 499 euros.
The announcement was made during its keynote opening event at the E3 games expo in Los Angeles.
Rival console manufacturer Sony said its console would be out "holiday 2013", although no official date has been set.
If both the PlayStation 4 and the XBox One go on sale in November this year, it would be the first time the two rivals have launched simultaneously. Previous consoles were released at least a year apart.
Source: BBC News - Business http://www.bbc.co.uk/news/technology-22848625#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
