Sony's PlayStation 4 has a new weapon in the ongoing war against arch rival Microsoft and its Xbox One: a price cut. After shaving $50 off the cost of ownership in the US earlier this month, Sony is going global with its thrifty ways - just in time for the holidays.

In a post on the PlayStation blog, Sony said that starting today, the 500GB PlayStation 4 will be available at a new low price of €349.99 in Benelux, France, Ireland, Italy, Portugal and Spain. In the UK, gamers can pick up the system for £299.99 while those in Austria and Germany can get it for €349.95. Aussies will now pay $479.95 and last but not least, the console will go for AED1399 in the United Arab Emirates.

Depending on what region you're in, you'll have access to a variety of console bundles. A quick check at GameStop reveals the Uncharted: The Nathan Drake Collection bundle, a limited edition Star Wars Battlefront bundle, the Call of Duty: Black Ops III limited edition bundle, The Last of Us Remastered bundle, a Military Appreciation bundle, a limited edition Destiny: The Taken King bundle and a Batman: Arkham Knight limited edition bundle.

It's worth pointing out that the aforementioned bundles range in price from $349.99 to $449.98 in the US.

Do you plan on picking up a next-gen console for the holidays or are you in an exclusive relationship with the PC? Let us know in the comments section below.