PlayStation TV will launch tomorrow, October 14 in North America, fans of Sony's PlayStation systems will be pleased to hear that it will release with almost 700 games on day one.

But what is PlayStation TV? It's a small microconsole box -- about the size of a smartphone -- that hooks into your existing television through an HDMI cable to let you play games and stream video without the need for a PlayStation 3 or PlayStation 4.

The Sony product was first released in Japan on November 14, 2013 and in other Southeast Asian countries on January 16, 2014 under the name PS Vita TV, and soon enjoyed sales success and rave reviews.

You can use the PS TV to remotely play your PS4 games on another TV, or play your PS Vita, PS Minis, PS One Classics, or PSP games through a full-sized DualShock controller. But more importantly, the PS TV will have the ability to download games from the PlayStation Store or the new PlayStation Now streaming service that will launch along with the PS TV.

As far as cross-console compatibility, PS TV users will be able to use voice chat or text chat between the PS TV and PS4 systems in and out of gameplay, while online Cross Play will also be available between consoles.

PlayStation Plus members will enjoy further benefits, including access to the Instant Game Collection, discounts at the PlayStation Store, online game save capabilities, and more.

A few of the reported games that will be available for the PS TV at launch include Rayman Origins, Final Fantasy X/X-2 HD Remaster, Twisted Metal, Borderlands 2, the God of War collection, Killzone: Mercenary, and many more. A limited edition of the console will be available as a bundle at Walmart, including a wireless DualShock 3 controller, 8GB memory card, and The LEGO Movie game all for $139.99.

PlayStation TV will retail for $99.99 in the U.S. and CAD $99.99 in Canada. The PlayStation TV release date in Europe and Australia is set for November 14, 2014. Please read the complete PS TV FAQ on the official site for more details.