After an outrageously dull monologue from new SCEA chief Shawn Layden, the platform holder pulled its E3 press conference back on track this evening by confirming that Grand Theft Auto V will be launching on the PlayStation 4 later this year. The firm announced the news by revealing a new trailer, showing the release in all of its lovely next-gen glory.

While the title has been rumoured for a while, the Japanese giant added that it will allow PlayStation 3 and Xbox 360 owners to import their saves, meaning that those eager to jump sides will not lose a moment’s progress. You can check out the release’s trailer in the space below. Will you double dip on this classic? Let us know in the comments section below.