The Tech Bet

Game on: PlayStation 4 has arrived

Erika Santoro
Sony's Play Station 4 finally here

Sony Computer Entertainment launches the PlayStation 4 in North America on Friday. And in two weeks, PS4 will become available in Europe and Latin America. The $399.99 next-generation computer entertainment system redefines immersive game play with powerful enhancements in graphics and speed, social capabilities and second-screen features utilizing devices such as PlayStation Vita.

The supports Twitch, a live Internet streaming video platform for video gaming, allowing users to broadcast their game play to their Twitch channel in real-time by hitting the DualShock 4 wireless controller's share button.

Sony Dualshock4 Wireless Controller
Source: Sony

The DualShock 4 new color variations, such as "magma red" and "wave blue," will be available later this year in North America and Latin America at a retail price of $59.99.

In addition, PS4 users can buy the PlayStation Camera for the same price as the DualShock 4 to add a picture-in-picture video of themselves in game play live streams.

A Sony PlayStation 4 (PS4) controller sits next to the company's games console, manufactured by Sony Corp.
Simon Dawson | Bloomberg | Getty Images

PS4 gamers also have access to a number of digital entertainment apps that can be found in the PlayStation Store. Among some of the apps available for the new console are Amazon Instant Video, Crackle, Netflix, NBA Game Time and NHL Game Center LIVE.

As the holiday season approaches Sony Computer Entertainment will have to compete with Microsoft, which is launching the Xbox One next Friday.

—By CNBC's Erika Santoro