Sony may be seeking to rain on Microsoft’s parade as it released a teaser video titled “#PlayStation2013” Jan. 31 and a Japanese report speculated the cost of the upcoming PlayStation 4 just one day after rumors of Microsoft’s next X-Box made the rounds Feb. 6.

According to Japan’s Asahi Shimbun, the Playstation 4 will cost 40,000 Yen–$430—and will be on sale around Christmastime. Further details on the new console will be released when Sony Computer Entertainment president Andrew House holds a press conference in New York Feb. 20.

The price is a bargain compared to the initial cost of the PS3, which was priced at about $500 when it launched in 2006, and is set to steal the thunder right out from under Microsoft’s next-generation X-box, which could be announced at Los Angeles’ E3 gaming conference in June and may also hit stores around Christmas.

Ahead of the Feb. 20 announcement, rumors have surfaced indicating the PS4 will focus on the cloud. Sony invested in cloud-based gaming last year when it purchased cloud-based gaming company Gaikai for $380 million.

“By combining Gaikai’s resources including its technological strength and engineering talent with SCE’s [Sony Computer Entertainment] extensive game platform knowledge and experience, SCE will provide users with unparalleled cloud entertainment experiences,” House said in June 2012. “SCE will deliver a world-class cloud-streaming service that allows users to instantly enjoy a broad array of content ranging from immersive core games with rich graphics to casual content anytime, anywhere on a variety of internet-connected devices.”

The PS4 is also expected to feature a touchpad controller, with a small touchpad replacing the area where the Start and PS buttons currently reside on DualShock controllers. The new controller is also rumored to include a Share button that will allow players to publish screenshots and video clips of their game online.

Other features of the PS4 are expected to include an eight-core x64 AMD processor, 8GB of RAM, 2.2GB of video RAM, four USB ports, a Blu-ray player, a 160 GB hard drive, Ethernet ports, as well as optical and HDMI outputs.