• Sony's fourth-generation PlayStation console went on sale at midnight
• The hotly-anticipated device costs £429 in the UK and $499 in the U.S
  
• Owners can trade and sell second-hand games without paying a fee
  
• New DualShock controller has a 'Share' button and built-in motion sensor
  
• Launch comes two weeks since the U.S release and a week since rival Microsoft started selling its Xbox One
• Fans at the London launch treated to performance by Tinie Tempah
  

By Victoria Woollaston and Sarah Griffiths

PUBLISHED: 19:03 EST, 28 November 2013 | UPDATED: 23:03 EST, 28 November 2013

It's been a busy, and potentially expensive, few months for gamers.

First there was the delayed release of Grand Theft Auto V, then Call of Duty: Ghosts hit the shelves before Microsoft launched its Xbox One.

And now in the final push before Christmas Sony has officially released its hotly anticipated PlayStation 4 console in the UK.

Hundreds of gamers camped for hours, and in some cases days, to be the first to get their hands on the fourth-generation console as shops across the UK opened at midnight.

Customers in the U.S got the console two weeks earlier and the launch comes just a week since rival Microsoft started selling its Xbox One.

The PS4 is the first major game machine the Japanese firm has built since the PlayStation 3 in 2006.

It comes with 8GB of DDR3 RAM powered by a custom 8-core AMD CPU plus a 500GB hard drive. The console also has the Blu-ray drive seen in its previous, third-generation model.

The new version of its DualShock controller includes a 'Share' button that allows players to post gameplay footage and screenshots online. 

The DualShock controller weighs around 210g. It has a two-point touchpad and six-axis Move motion sensor that works with a 3D camera placed near the TV set. Other features include a Light Bar, Vibration and a built-in mono speaker.

The controller costs for $59 in the U.S and £54 in the UK. The 3D camera costs $59 (U.S) and £44 (UK). Both accessories will come in the same 'Jet Black' colour as the console.

Today's launch means the pre-Christmas console battle has officially begun, yet many gamers could end up disappointed as retailers warned of low stocks.

Other retailers sold out of pre-orders weeks ago.

Before the U.S launch on 15 November, London's OXO Tower was given a makeover with the iconic letters from the company's name transformed to look like the buttons from Sony's DualShock controller.

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A PS4 lounge was also set up on the same day in Covent Garden so fans could play upcoming games before their official release today.

Microsoft was the first to announce it would be releasing its next-generation console in time for Christmas during an unveiling at the Microsoft's Washington headquarters in May.

It costs $499 in the U.S. and £429 in the UK making it £80 more expensive than Sony's model.

Sony first gave a sneak preview of the PS4 a month later, in June.

During the unveiling, Sony's CEO Jack Tretton announced more than 140 PS4 titles including an assortment of games from smaller, independent developers, which Sony featured onstage next to giant publishers like Activision and Ubisoft.

Sony has also been developing Cloud technology, allowing owners to play their old games from previous PlayStation models over the internet.

Computer game fans queuing outside the PS4 lounge in Covent Garden, London for a chance to buy a PlayStation 4. First in the queue was Imran Chowdhury (pictured), from East Croydon

However, to play games online, users will need to pay for a PlayStation Plus subscription that costs £39.99 a year, or £11.99 for a 90-day subscription.

To soften this blow, Sony also announced it would be giving PS+ subscribers a copy of upcoming racer Drive Club for free as part of the subscription.

Bookmakers Paddy Power slashed the odds on Playstation 4 outselling the Xbox One in 2013 following the unveiling.

It chopped the odds on the Playstation 4 being the top selling console in 2013 from 4/11 to 2/9 while the Xbox One’s odds drifted from 15/8 to 11/4.

Similarly, IHS has predicted Sony will sell 2.4 million PS4 consoles by the end of 2013, with Microsoft managing a similar amount of 2.2 million Xbox One consoles.

IHS expects existing geographical brand allegiance to continue with Xbox One outselling PS4 in North America, and PS4 outselling Xbox One across Europe combined.

Over the next five years, IHS predicts that Sony will sell 49 million consoles, while Microsoft will fall short by around 11 million.

Both companies are also expected to benefit from Nintendo's Wii U weak sales, with some past Wii users adopting the latest consoles instead of upgrading to Wii U. 

According to media monitoring firm, Synthesio, there were 40 per cent more comments for the PS4 compared to the Xbox One. The comments were also three times more positive.

Just under half of comments about the latest Xbox cited 'issues' such as faulty hardware or problems with TV connections but consumers have been impressed by the hand gesture and voice recognition functionality.

The most talked about issue in relation to the PS4 was the need to buy a separate camera, however fans did not appear to have been put off by the additional cost, with only 5 per cent citing it as a negative.

Other main talking points included the PS4's graphics, competitive price and social features.

Catriona Oldershaw, Managing Director UK of Synthesio, said: 'Although the PS4 has only just had its European launch, there is still a markedly higher level of online buzz compared to the Xbox.

'The Xbox One has received criticism in some quarters due to hardware glitches, however, consumers are still very positive about the hand gesture and voice recognition upgrades.

'If the Xbox hadn't experienced teething problems, we would have expected the proportion of positive comments to rival the PS4. However, it is clear that the PS4 has a much more vocal online consumer base. The question is whether these online advocates help to drive sales.'