The world's biggest gaming conference, E3, kicked off in grand style with the Microsoft Xbox One showcase event
Microsoft announced a $499 price tag for its first new Xbox in eight years and said it would go on sale in 21 countries in November
The Xbox One is costlier than the current Xbox 360 and includes a Kinect motion sensor for hands-free game playing
The new Xbox One controller (R), next to the previous controller
Microsoft also announced several game titles, like Halo exclusively for Xbox One
Battlefield 4 Second Assault will be available first on Microsoft Xbox One
There will be two free games available per month for all the Xbox Live Gold members
After Microsoft, it was the turn of Sony where it finally gave the world a first glimpse of the PlayStation 4 (PS4)
Sony Computer Entertainment president and CEO Andrew House introduces the new PlayStation 4 at the Sony PlayStation E3 event in Los Angeles
The Sony PS4 would run second-hand games and does not require an always-on Internet connection
Sony said it would sell the PlayStation 4, a full $100 cheaper than Microsoft's Xbox One
Attendees watch gamers play video games on the PlayStation 4 at the Sony PlayStation E3 media briefing
Sony is giving gamers their first look at the PlayStation 4 and it's a rectangular black box, just like all the previous PlayStations, compared to Xbox One's more exciting design
The new Dual Shock 4 controller for the Sony PlayStation 4
Sony is positioning PlayStation as a pure gaming console, compared to Microsoft that wants a pice of every entertainment pie including TV and live sports
Sony said new game titles for PS4 would include Assassin's Creed IV Black Flag by Ubisoft
Holiday season 2013 promises to be an exciting one for gamers as the new consoles from Microsoft and Sony go head to head. The next generation gaming wars are just beginning!