The deal includes a Sony Xperia Z1, a PlayStation 4 console, 12 months of PlayStation Plus and a copy of Killzone: Shadow Fall.
Let's talk cash
The bundle will cost you £52 per month for which you'll have to pay out £89.99 as an upfront cost for the new console. In that you'll get unlimited calls and texts and 1GB of data on a 24-month contract.
As the deal is on O2's Refresh tariff, you can choose to pay for the hardware in one go if you fancy, meaning you'll just be left with the costs for calls, texts and data.
But if you just want the console without any bells, whistles or commitments (and haven't pre-ordered) Sony will be selling a limited number of PS4s at its midnight launch event in Covent Garden, London. Don't dilly-dally - it's first come, first serve.