PS4 won't charge more than $60 for games, will Xbox 720 correlate in price? (Photos)

The PS4 was revealed this past week at an exclusive event in New York City, but that was not the end of news as Sony has confirmed that gamers will not have to pay more than $60 for one game.

According to a report from VG24/7 on Friday, Jack Tretton, President and CEO of Sony Computer Entertainment of America, talked about how people will pay if they see value in what they are purchasing.

"I think people are willing to pay if they see value there and I think there’s more choice than ever before for consumers.

"We’re going to welcome free-to-play models; games from 99 cents up to those $60 games.

"But if you really see where the heat is for the true gamer on the console it’s still that big-form experience that typically runs upwards of $50 million to develop and will justify that $60 price point and will give people hours and hours of gameplay on a daily basis for months and years to come," Tretton said.

In a separate interview, Tretton then talked about what the PlayStation 4 is and what it will focus on.

"PlayStation 4 is centered on all of you – the gamers. It redefines rich and immersive gameplay with powerful graphics and speed, intelligent personalization, deeply integrated social capabilities, and innovative second-screen features.

"When we designed PlayStation 4, we focused on building an architecture that will allow the greatest game developers in the industry to push boundaries and dig deep within their imaginations to create the most immersive and unique games for you to enjoy," Tretton said.

With the bar already being set high in many regards to the PS4, it'll be very interesting to see how the Xbox 720 does things.

The gaming industry is about to get even more competitive, than the previous generation we all witnessed.

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, Video Games Examiner

Steve Ruygrok has been in the journalism world since 2008. In addition to attending major events for the video games industry, he specializes in features, reviews and interviews. Subscribe for the latest feature he has to share regarding the video games industry. You can follow him on Twitter ...

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