Sony has announced that its next generation PlayStation 4 games console will be released on 29 November.

The machine will cost £349 when it hits retail stores in the UK - and $399 when it is released two weeks earlier in the US.

Sony added that more than one million PS4 machines have been pre-ordered so far.

Sony made the announcement at its annual Gamescom press conference in Cologne, Germany.

Other major games companies including Microsoft and EA made their next-generation pitches at the event, with the former confirming that a free copy of FIFA 14 will be included in every Xbox One console pre-ordered before launch - expected at a similar time to the PS4.

Loading Slideshow...
  • A controller for the new PlayStation 4 is on display at the Sony PlayStation E3 media briefing in Los Angeles, Monday, June 10, 2013. Sony is giving gamers their first look at the PlayStation 4 and it's a rectangular black box, just like all the previous PlayStations. (AP Photo/Jae C. Hong)

  • PS4_11

  • PS4_07

  • PS4_10

  • PS4_06

  • PS4_12

  • PS4_04

  • PS4_05

  • PS4_09

  • PS4_08

  • PS4_02

  • ps4_03

  • PS4_01

  • US-E3-SONY-PLAYSTATION-PRESS CONFERENCE

    Sony CEO Andrew House unveils the new PlayStation 4 at the Sony E3 2013 press conference in Los Angeles, California June 10, 2013. House said that the new PlayStation 4 will cost USD $399 and it will be available in time for the 2013 holiday season. AFP PHOTO / ROBYN BECK (Photo credit should read ROBYN BECK/AFP/Getty Images)

  • Leading Video Game Companies Hold News Conferences To Open E3

    LOS ANGELES, CA - JUNE 10: Andrew House, President and Group CEO Sony Computer Entertainment Inc., holds up a Playstation 4 at the Sony Playstation E3 2013 press conference June 10, 2013 in Los Angeles, California. Thousands are expected to attend the annual three-day convention to see the latest games and announcements from the gaming industry.(Photo by Eric Thayer/Getty Images)

  • Andrew House

    Sony Computer Entertainment president and CEO Andrew House introduces the new PlayStation 4 at the Sony PlayStation E3 media briefing in Los Angeles, Monday, June 10, 2013. Sony is giving gamers their first look at the PlayStation 4 and it's a rectangular black box, just like all the previous PlayStations. (AP Photo/Jae C. Hong)

  • Andrew House

    Sony Computer Entertainment president and CEO Andrew House introduces the new PlayStation 4 at the Sony PlayStation E3 media briefing in Los Angeles, Monday, June 10, 2013. Sony is giving gamers their first look at the PlayStation 4 and it's a rectangular black box, just like all the previous PlayStations. (AP Photo/Jae C. Hong)

  • Andrew House

    Sony Computer Entertainment president and CEO Andrew House introduces the new PlayStation 4 at the Sony PlayStation E3 media briefing in Los Angeles, Monday, June 10, 2013. Sony is giving gamers their first look at the PlayStation 4 and it's a rectangular black box, just like all the previous PlayStations. (AP Photo/Jae C. Hong)

  • A gamer holds a controller for the new PlayStation 4 is on display at the Sony PlayStation E3 media briefing in Los Angeles, Monday, June 10, 2013. Sony is giving gamers their first look at the PlayStation 4 and it's a rectangular black box, just like all the previous PlayStations. (AP Photo/Jae C. Hong)

  • A gamer plays a video game on the PlayStation 4 at the Sony PlayStation E3 media briefing in Los Angeles, Monday, June 10, 2013. Sony is giving gamers their first look at the PlayStation 4 and it's a rectangular black box, just like all the previous PlayStations. (AP Photo/Jae C. Hong)

  • Attendees watch gamers play video games on the PlayStation 4 at the Sony PlayStation E3 media briefing in Los Angeles, Monday, June 10, 2013. Sony is giving gamers their first look at the PlayStation 4 and it's a rectangular black box, just like all the previous PlayStations. (AP Photo/Jae C. Hong)

  • A gamer plays a video game at the Sony PlayStation E3 media briefing in Los Angeles, Monday, June 10, 2013. Sony is giving gamers their first look at the PlayStation 4 and it's a rectangular black box, just like all the previous PlayStations. (AP Photo/Jae C. Hong)

  • Andrew House

    IMAGE DISTRIBUTED FOR SCEA - Adam Boyes, Vice President of Developer and Publisher Relations of Sony Computer Entertainment America, said a stellar lineup of games from independent developers and key publishing partners will launch on PlayStation 4 at the PlayStation E3 Press Conference on Monday June 10, 2013 in Los Angeles. (Photo by Jordan Strauss/Invision for SCEA/AP Images)

  • Michael Lynton

    IMAGE DISTRIBUTED FOR SCEA - Michael Lynton, CEO of Sony Entertainment and CEO and Chairman of Sony Pictures Entertainment, announced that Sony Pictures will deliver new original programming and unique access to entertainment content on PlayStation 4 at the PlayStation E3 Press Conference on Monday June 10, 2013 in Los Angeles. (Photo by Jordan Strauss/Invision for SCEA/AP Images)

Other news included:

  • Price of the 12GB PS3 cut to €199 in Europe
  • Discounts on key launch titles including Call of Duty: Ghosts and Assassin's Creed IV offered at a "significant discount" for PS4 if a user already owns the PS3 version
  • In total 15 new PS4 or PS Vita games were announced, mainly indie titles
  • PS Vita price cut to €199, or about £170 and "significant reductions" promised to price of PS Vita Memory Cards
  • Borderlands 2 for PS Vita will be launched in 2014
  • Critically-acclaimed indie game Fez will be coming to PS Vita, among a range of other indie games including the sequel to Hotline Miami
  • Little Big Planet Hub - a free to play service with an emphasis on in-app purchases - will launch on PS3 later in 2013
  • Gran Turismo 6 will launch on 6 December 2013 for PS3 - and a full-length feature film will be produced by Sony Pictures, inspired by GT Academy
"The PS4 system focuses on the gamer, ensuring that the very best games and the most immersive experiences are possible on the platform. The PS4 system enables the greatest game developers in the world to unlock their creativity and push the boundaries of play through a system that is tuned specifically to their needs."

ps4