Sony officially launched its next generation console, PlayStation 4, Thursday midnight at the Standard High Line Hotel in New York.

It's often said patience tends to bear sweeter fruits. Yes, the long wait for the Playstation fans is over. PlayStation 4 has finally hit the U.S. shelves retailing at $399, $100 less compared to Xbox One. For the early birds Sony is offering freebies like one month free subscription for PlayStation Plus, Sony Music and $10 PlayStation Store credit.

Hundreds of Sony fans were seen eagerly waiting outside the High Line Hotel to grab one of the 444 consoles offered by Sony at the launch.

Many of the fans also crowded around the GameStop store at Market Street in San Francisco. When asked, highly excited gamers revealed their desperation to try out the new features on the PS 4, reports CNet.

PS 4 runs on an 8-core x86 processor accompanied by a Blue-ray DVD drive. In terms of storage, the system comes along with a 500GB hard drive to complement the 8GB of GDDR5 memory. Alongside the console, the Play Station 4 box also contains a DualShock 4 controller with a touch pad and PlayStation 4 Eye, the newly developed camera for PS 4 from Sony. However, the sensitive camera does not come free of cost, you have to pay an additional $59.

To access the multimedia/ online features on the console, the gamers need to sign up for PlayStation Plus costing $49.95 for 12 months. The Plus membership offers many additional perks like 3GB of cloud storage, access to additional game trials, betas, demos, automatic game, console updates and the Instant Game Collection-where the players can start playing even before the entire game gets downloaded.

In order to make its next generation console a perfect entertainment hub, Sony has incorporated some of the most popular TV and movie streaming apps like LoveFilm, Netflix, Amazon, Hulu Plus, iPlayer, Demand5 and other regional specific services, reads a recent post on The Next Web.

PS 4 will be receiving Naughty Dogs cartography game by next year. But Sony has a long way to go to enable the PS3 titles on its next generation console.

With its intriguing features and 33 console titles, will PS 4 beat Xbox One?