Sony has announced the arrival of PlayStation TV on October 14 in North America during its Gamescom 2014 press briefing.

"PlayStation®TV system is a sleek and compact console with a universe of PlayStation games available for you to stream, download and play. Whether as a second console for your bedroom or the primary gaming system in your living room, PlayStation TV is an easy way for gamers of all ages and skill levels to enjoy playing games together."

The device is one of the highlights in Sony's E3 2014 panel.

Shawn Layden, President and CEO of Sony Computer Entertainment America said at E3 2014, "This little gem will be able to pair with your PlayStation 4, allowing you to play your PS4 game, via Remote Play, on a second television in your home."

PlayStation TV can be a secondary console for PS4 titles through Remote Play and comes with Sony's game streaming service, PlayStation Now.

Those who are interested to purchase PlayStation TV system are given two options: PlayStation TV Bundle and PlayStation TV.

PlayStation TV Bundle comes with a tag price of $139.99 that includes the following: One PlayStation TV system, one DUALSHOCK 3 Controller, one LEGO Movie videogame, 8 GB Memory Card, one HDMI Cable and one USB Cable.

The standalone PlayStation TV that sells for $99.99 include the unit and an HDMI Cable.

PlayStation TV sports an external dimension of 65.0 × 105.0 × 13.6 mm (length x height x thickness), a quad-core ARM  Cortex-A9 CPU, IMG SGX543MP4 GPU, PlayStation Vita card slot, Memory card slot, USB Connector (USB 2.0 Type A), HDMI output port (720p, 1080i, 480p), LAN port and 1 GB internal memory.

The microconsole was first introduced in Japan on November of 2013, and will be launched in Europe and Australia on November 14, 2014.