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The console's controller was also redesigned and improved over the PlayStation 3, with improved buttons and analog sticks, and an integrated touchpad among other changes. The console also supports HDR10 High-dynamic-range video and playback of 4K resolution multimedia.

The PlayStation 4 was released to critical acclaim, with critics praising Sony for acknowledging its consumers' needs, embracing independent game development, and for not imposing the restrictive digital rights management schemes like those originally announced by Microsoft for the Xbox One. Critics and third-party studios, before its launch, also praised the capabilities of the PlayStation 4 in comparison to its competitors; developers described the performance difference between the console and Xbox One as "significant" and "obvious". Heightened demand also helped Sony top global console sales. By October 2019, PS4 became the second-best-selling home game console of all time, behind the PlayStation 2.

On September 7, 2016, Sony unveiled the PlayStation 4 Slim, a smaller version of the console; and a high-end version called the PlayStation 4 Pro, which features an upgraded GPU and a higher CPU clock rate to support enhanced performance and 4K resolution in supported games.

Its successor, the PlayStation 5, was released in November 2020, with Sony discontinuing in Japan all PlayStation 4 models except the Slim version in January 2021, with it still being produced in Western markets following their statement of 3-year support of PS4.

The PS4 features a "Rest mode" feature. This places the console in a low-power state, while allowing users to immediately resume their game or app once the console is awoken. The console also is able to download content such as game and OS updates while it is in this state.

According to lead architect Mark Cerny, development of Sony's fourth video game console began as early as 2008.[9][10]Less than two years earlier, the PlayStation 3 had been launched after months of delays due to issues with production.[11] The delay placed Sony almost a year behind Microsoft's Xbox 360, which was already approaching unit sales of 10 million by the time the PS3 launched.[11] Sony Computer Entertainment Europe CEO Jim Ryan said Sony wanted to avoid repeating the same mistake with PS3's successor.[12]In designing the system, Sony worked with software developer Bungie, who offered their input on the controller and how to make it better for shooting games.[13] In 2012, Sony began shipping development kits to game developers, consisting of a modified PC running the AMD Accelerated Processing Unit chipset.[14] These development kits were known as "Orbis".[15] [16]In early 2013, Sony announced that an event known as PlayStation Meeting 2013 would be held in New York City, U.S., on February 20, 2013, to cover the "future of PlayStation".[17][18] Sony officially announced the PlayStation 4 at the event.[19][20] It revealed details about the console's hardware and discussed some of the new features it would introduce.[19][21] Sony also showed off real-time footage of games in development, as well as some technical demonstrations.[22][23] The design of the console was unveiled in June at E3 2013, and the initial recommended retail prices of $399 (NA), €399 (Europe), and £349 (UK) given.[24][25] Sony took advantage of problems that Microsoft had been having with their positioning of their newly announced Xbox One, which included its higher price point ($499 in North America), as well as strict regulations on how users could share game media. Besides its lower price point, Sony focused on the ease one would have in sharing media with the PS4.

The company revealed release dates for North America, Central America, South America, Europe, and Australia, as well as final pieces of information, at a Gamescom press event in Cologne, Germany, on August 20, 2013. The console was released on November 15, 2013, in the United States and Canada, followed by further releases on November 29, 2013.[2] By the end of 2013, the PS4 was launched in more European, Asian and South American countries.[27][28] The PS4 was released in Japan at ¥39,980 on February 22, 2014.[29]Sony finalized a deal with the Chinese government in May 2014 to sell its products in mainland China, and the PS4 will be the first product to be released. Kazuo Hirai, chief executive officer of Sony, said in May: "The Chinese market, just given the size of it, is obviously potentially a very large market for video game products ... I think that we will be able to replicate the kind of success we have had with PS4 in other parts of the world in China."[30]In September 2015, Sony reduced the price of the PS4 in Japan to ¥34,980,[31] with similar price drops in other Southeast Asian markets.[32] The first official sub-£300 PS4 bundle was the £299.99 "Uncharted Nathan Drake Collection 500GB", and was released in the UK on October 9, 2015; a 1 TB £329.99 version was offered at the same time.[33] On October 9, 2015, the first official price cut of the PS4 in North America was announced: a reduction of $50 to $349.99 (US) and by $20 to $429.99 (Canada).[34][35][36] An official price cut in Europe followed in late October 2015, reduced to €349.99/£299.99.

On June 10, 2016, Sony confirmed that a hardware revision of the PlayStation 4, rumored to be codenamed "Neo", was under development. The new revision is a higher-end model that is meant to support gameplay in 4K. The new model will be sold alongside the existing model, and all existing software will be compatible between the two models.[38] Layden stated that Sony has no plans to "bifurcate the market", only that gamers playing on the Neo will "have the same experience, but one will be delivered at a higher resolution, but everything else is going to be exactly as you'd expect".[39] The high-end console was publicly revealed on September 7, 2016, as PlayStation 4 Pro.[40] At the same time, Sony unveiled an updated version of the original PS4 model with a smaller form factor.[41]In May 2018, during a presentation to investors, Sony Interactive Entertainment CEO John Kodera stated that the PlayStation 4 was heading into the end of its lifecycle and that the company was anticipating decreasing year-over-year hardware sales.[42] He explained that Sony would be countering the expected decline by focusing on "strengthen[ing] user engagement" including continued investments into new first-party games and other online services for PS4. "We will use the next three years to prepare the next step, to crouch down so that we can jump higher in the future," Kodera added in an interview with the press the following day.[43]Following the launch of the PlayStation 5 in November 2020, Sony discontinued production in Japan of all but the 500GB Slim model of the PlayStation 4 on January 5, 2021, with the standard PS4 still being produced for western markets.[44] According to a report from Bloomberg News in January 2022, Sony had been poised to discontinue the PlayStation 4 at the end of 2021 in favor of the PlayStation 5, but due to the ongoing semiconductor shortage that made it difficult for Sony to keep up with PlayStation 5 demand, the company instead planned to continue PlayStation 4 production.

The PlayStation 4 allows users to access a variety of free and premium PlayStation Network (PSN) services, including the PlayStation Store, PlayStation Plus subscription service, PlayStation Music powered by Spotify, and the PlayStation Video subscription service, which allows owners to rent or buy TV shows and films à la carte.[23] A United States-exclusive cloud-based television-on-demand service known as PlayStation Vue began beta testing in late November 2014.[103][104] Sony intends to expand and evolve the services it offers over the console's lifespan.[105] Unlike PS3, a PlayStation Plus membership is required to access multiplayer in most games; this requirement does not apply to free-to-play or subscription-based games.

The PlayStation 4 supports Blu-ray and DVD playback, including 3D Blu-ray. The playing of CD is no longer supported,[101] as the console no longer has a infrared 780 nm laser. Custom music and video files can still be played from USB drives and DLNA servers using the Media Player app.