PS4 to launch with 3 models, most expensive at $599 [rumor]

UPDATE: Sony has confirmed the price of the PlayStation will be $399 in the US and £349 in the UK.

Microsoft today announced a hefty price tag for its Xbox One console launching this November: $499. Sony, however, may be going higher than that, as GamesIndustry International has learned from a source close to the company that PS4 may launch with three versions, the highest being priced at $599.

The details are expected to be clarified at Sony's own E3 press conference this evening; it's currently unclear what the main differences will be among the PS4 SKUs, but our source said that Sony's looking to push 4K resolution technology as a "stepping stone" to glasses free 3D.

While cheaper versions of the PS4 (possibly as low as $399) will make a purchase much more palatable to the average consumer this holiday season, it's somewhat surprising that Microsoft and Sony are pushing hardware at such high price points. The PS3's launch at $599 back in 2006 was a very sore spot for the company, and console manufacturers are facing increasing pressure from other platforms, including tablets, smartphones and the PC itself with services like Steam. $499 and $599 will be hard to swallow for many.