Sony stuns gamers with $399 price point for PS4

Sony dropped a bomb on the gaming world by announcing the PS4 will launch this holiday season for $399, which should leave Microsoft executives sweating. That is $100 less than the Xbox One that was announced earlier in the day at E3, and the PS4 has much better tech inside it.

But that's not all. Sony announced the PS4 will have no used game restrictions and will not be required to be connected to the Internet to play, both of which are a big part of the Xbox One. Has the next-gen console winner already been decided? This is a huge blow to Microsoft and I'm not sure how they'll recover from it if they decide to stay the course. Sony has made the PS4 very user-friendly and simple to use, unlike the Xbox One which just seems to be a complicated mess right now.

Launch titles for the PS4 include Killzone: Shadow Fall, DriveClub and Knack. Multiple indie developers were in the spotlight as well during the Monday press conference showing off their unique-looking games. Other games announced include Final Fantasy XV and Kingdom Hearts III, which got some applause. Bungie also revealed gameplay for Destiny, a futuristic first-person shooter. It looks really good and I've had my eye on this one for a while.

However some upsetting news, but not so much since we know the console's price. A PS+ subscription will be required to play games online, which costs less than $5 a month. From a business standpoint, this was a no-brainer since Microsoft raked in the dough from Xbox Live Gold. But being a PS+ subscriber has its benefits -- the Instant Game Collection lets gamers play games for free and DriveClub PS+ edition will be in it to celebrate the PS4's launch.

Overall, this is one of the more memorable E3 conferences in years, mostly because of the jabs Sony delivered to Microsoft. The next-gen console war has begun -- or is it already over?