Sony took its sweet time during its Gamescom press conference to announce the U.S. and European release dates for the PlayStation 4, but now we know exactly when our wallets will break.

The PlayStation 4 will arrive in the United States on Nov. 15, just a week before many of the biggest games of the holiday season launch. European audiences will be able to get their hands on the console on Nov. 29.

Sony claimed there were already more than one million pre-orders for the PlayStation 4, which bodes well for the consoles success during the first few months of release. Coupled with the PS Vita price drop to $199.99, it seems as if Sony is engineering quite a coup for the next generation.

The ball now returns to Microsoft's court for the Xbox One release date, though we don't expect it to differ much from that of Sony. Until Microsoft actually gives us some details though, we'll just have to hope both companies give our wallets a little time to breathe.