We may not know for sure when the much anticipated PlayStation 4 will be released or what it looks like, but one thing is for sure: Sony does not want to make the same mistake again and intends to sell the new console cheaper than the PlayStation 3 was at launch.

The PS4 will face tough competition from Microsoft’s Xbox 720, also scheduled for a 2013 release, so Sony needs an accessible launch price for its new console. Especially in the light of what happened with the PS3. The console was released in 2006, a year later than the Xbox 360 and was sold for a considerably higher price: $499 in North America. The price and the console’s limited availability in some parts of the United States prevented the Japanese hardware developer from capitalizing on the success of the PlayStation 2.

PlayStation 4 Cheaper at Launch than PS3?

And the gaming giant seems keen on not wanting to repeat past mistakes. The vice president of Sony Worldwide Studios, Michael Denny, said recently the price of the PlayStation 4, slated for a holiday 2013 release, will make it possible for the console to reach “as broad a gaming audience as possible.” The price will allow as many gamers as possible to buy the console on launch and be able to play the titles released for PS4 later this year. Sony has already prepared a solid lineup of PlayStation 4 titles with the purpose of appealing to all categories of players.

More details about the PS4 are expected to be revealed at the E3 in June, but it is not yet known whether a price will be announced then as well. What’s certain is that Sony cannot afford to take any chances with the new console’s price.

The high launch price of the PS3 allowed cheaper consoles manufactured by Microsoft and Nintendo to get ahead in the race. But even so, many gamers complained that Nintendo’s Wii U, selling for $300-350, is too expensive for what it has to offer. Gaming industry analysts expect next generation systems such as the PS4 and the Xbox 720 to be launched in the $300-400 price range.

[Image via Edge]