Microsoft's Xbox One (pictured, right) will cost £429 and will go on sale in the UK this November. A freshly designed Xbox 360 was also unveiled which is going on sale now.
Sony's PlayStation 4 (pictured, left), meanwhile, will be released for £349 this Christmas. It will cost $399 in the US and €399 in Europe.
Both consoles will feature the latest big-brand games, including Battlefield 4, FIFA 14, a new Tom Clancy game and much more.
Each device will have its own exclusive titles, too. The Xbox One will have a new Halo game, Minecraft, Forza 5 and more, while PS4 gets Killzone, as well as exclusive content for Batman and Grand Theft Auto.
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