TOKYO (Reuters) - Sony Corp said on Monday that it will launch the PlayStation 4, its latest game console, on Feb 22 in Japan, three months later than its Nov 15 release in the United States.

The basic version of the PS4 will retail for 39,980 yen ($400), in line with its North American $399 (255 pounds) price tag. That compares with $499 for Microsoft's Xbox One, which will be rolled out on Nov 22.

Sony said in August that it had received 1 million preorders for the new console, which will be on sale in Europe, Australia and South America from Nov 29, in time for the busy pre-Christmas season.

(Reporting by Sophie Knight and Dominic Lau; Editing by Edmund Klamann)