Sony slashes PlayStation 4 pricing

Insert less coins

The Christmas console wars have started, with Sony dropping the price of the PlayStation 4 to $479.95.

The $70 price cut applies to the console's 500GB incarnation, while the 1TB model is currently selling on Sony's website for $549.

The move sees Sony taking the fight to its only real console competitor, Microsoft's Xbox One – the Nintendo Wii U having dropped out of the race quite some time ago.

Console clash

The PlayStation 4 has been the pricier of the two consoles since Microsoft starting selling the Xbox One without its controversial Kinect accessory, but Sony's move places them on a more even footing – Microsoft's 500GB console is selling for $499, but comes pre-bundled with one of a number of games.

There are plenty of reasons to pick a side in the console wars as Christmas approaches, with a tidal wave of new titles such as Call of Duty: Black Ops 3, Star Wars Battlefront, Fallout 4, and Assassin's Creed Syndicate flooding into shops just in time for Santa's rounds.

While most games are cross-platform, it's console exclusives like Uncharted 4 for PS4 and Halo 5 for Xbox One that can be the deciding factor in choosing which console you'll want to unwrap on Christmas morning.