The two consoles certainly look a lot like each other. Both have angular shapes, black colouring and a combination of matte and gloss finishing.
We're not particularly sold on either design, but they do both hold more than a passing resemblance to the Sony PS2 - the best selling console of all time.
Let's take a look at the specs, features, services and peripherals of both consoles...
Always online
OpinionXbox One looking good but PS4 has the edge
The Xbox One requires gamers to maintain a constant internet connection. If your Xbox One is disconnected for longer than 24 hours, your games will cease to function. You'll still be able to watch TV, use Blu-rays and surf the web, but your games will be off limit. This has made a lot of gamers very mad, so it's surely a huge advantage for Sony that the PS4 has no such limitations.
Unless you're playing online, streaming games or downloading, your PS4 does not need to be connected to the internet. Games will always work regardless.
Pre-owned titlesAnother huge win for Sony comes in the realm of used games. Where Microsoft is allowing publishers the right to set their own rules with regards to allowing them to be re-sold, Sony is doing no such thing.
Pre-owned games will work on the PS4 just as they do with the PS3 and the PS2. You can lend a game to a friend simply by handing them the disc.
However, with Xbox One, you can only lend a game to a person you've had in your Xbox live friends list for longer than 30 days, and you can only do it once. This could lead to reduced availability and/or increased prices for pre-owned titles, though it's hard to predict how it will all shake down when the consoles and games finally go on sale.
"We designed the Xbox One so game publishers can enable you to trade in your games at participating retailers," said Microsoft on the Xbox site. "Microsoft does not charge a platform fee to retailers, publishers, or consumers for enabling transfer of these games."
The priceBoth consoles will go on sale later this year - the Xbox One certainly in November, with no exact date confirmed for the PS4. We do have confirmed prices though, and again the Sony PS4 looks to be a more attractive prospect.
The PS4 will cost $399 in the US, £349 in the UK, €399 in Europe and $549 in Australia.
The Xbox One, meanwhile, will cost more - $499 in the US, £429 in the UK and $599 in Australia.
Price was always going to be a key battleground, and in these frugal times it will be interesting to see what percentage of gamers are willing to fork out the extra cash for the Xbox. You certainly wouldn't expect many to shift in Japan!
Agreeing on an AMD CPUAs much as the two warring systems are different, the heart of the Xbox One and the PS4 remain very similar.
That's because they're both running x86 octa-core CPUs, and these eight-core processors are built by the same chipmaker, AMD.
The use of AMD in the Xbox One and PS4 is certainly a switch for both companies.
Previously, Microsoft had used an IBM PowerPC processor, while Sony partnered with Toshiba and IBM on its own complicated Cell processor.
While the Xbox One will run a heavily modified eight-core AMD processor, PS4 will utilize a x86-64 "Jaguar" CPU.
PS4, while a no-show at the Sony event, has similar specs
AMD's Graphics Core NextBoth console makers are also relying on AMD to design their next graphics processors that will produce the next-generation visuals that differentiate console games from the emerging smartphone market.
The Xbox One marries its GPU to the CPU in a system-on-a-chip design, according to Wired, with Direct 11.1 support.
The single 40-nanometer SoC really contrasts with the two dedicated 90-nm chips found in the Xbox 360.
However, it only marginally contrasts with the PS4, which also combines its AMD CPU with the chip maker's GPU.
In the case of PS4, the graphics processor is described as semi-custom AMD Radeon that runs at 1.8 TFLOPS.
Developers are really going to appreciate PS4's 8GB GDDR5 RAM
Sony scores with 8GB GDDR5 RAM
One of the most impressive things about the PS4 specs has been its use of 8GB GDDR5 RAM.
Microsoft unveiled the Xbox One to have 8GB RAM as well, but it's DDR3 memory variety.
That may mean more to game developers in the long run as opposed to gamers themselves right now, but it's still an interesting choice for the Xbox One.
Which has the better controller?The Xbox One controller vs the PS4 DualShock 4 controller is a debate that won't be won anytime soon, mostly because gamers' already have a locked-in preference.
The reason for this is that neither Sony nor Microsoft have radically changed their respective controllers over the years - they're more like evolutions 2000 and 2001.
The DualShock 4 is a little bigger in the next-generation thanks to its unique front-and-center touchpad. Sony stuck with the dual analog sticks down in front, but at least have a central divot recess for easier gripping.
Microsoft also didn't mess with success, only slightly modifying its controller in the jump to the Xbox One. It's 40 design innovations are subtle, including the tweaked D-Pad on the bottom-left of the game pad.
Xbox One Kinect vs PS4 EyeWhile Xbox One and PlayStation 4 will appeal to "core" gamers with mature launch titles, Microsoft and Sony are charging forward with motion-sensing devices.
The Xbox One Kinect was unveiled along with the system during the May 21 announcement, when Microsoft refered to to the advanced camera as "human control for a human experience."
Expanding on that motto, the packed-in 1080p Kinect 2.0 will be able to process 2GB of data per second, analyzing more joints, the slight rotation of a wrist or shoulder and your heartbeat.
Less is known about the PlayStation 4 Eye, but Sony did state that its similarly shaped camera bar contains two two 1280×800px cameras.
The PS4 DualShock 4 controller will come into play with the PS4 Eye thanks to its multi-colored light bar. It will also be compatible with those PS4 Move motion controllers that have gone unused.
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