SCE Chief Executive Andrew House added that the console will be available from November 15 in North America and will hit stores in Europe from November 29.
"The response we have received is nothing short of incredible," he said at a news conference on the sidelines of Gamescom, Europe's biggest videogames fair.
He added the console will be available in 32 countries worldwide during the holiday season.
Microsoft Corp has said it will start selling its latest console at some point in November, intensifying competition ahead of the year-end holidays and gift-giving season.
Sony has priced the PS4, $100 lower than the new Xbox One by Microsoft at $399.
Microsoft unveiled the Xbox One in May, its first new gaming console in eight years, marking its strongest push so far to dominate consumers' living rooms with an array of exclusive media content.
Microsoft Europe's Vice President of Interactive Entertainment Chris Lewis said on Tuesday preorders for the Xbox One were "unprecedented" but declined to give more details.
Sony said it would also cut the retail price for its PlayStation 3 and PlayStation Vita devices to $199 in the United States and 199 euros in Europe.
Previously the Vita was 249 euros and the PlayStation 3 was 229 euros.
© Thomson Reuters 2013