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Bandai Namco announced that their upcoming PS4 and PS Vita game, Sword Art Online: Hollow Realization, will release in Japan on October 27, 2016. [Thanks, Game Jouhou.]
Additionally, Philia, who made her debut in Sword Art Online: Hollow Fragement, and Strea have been confirmed as new characters.
The standard edition on PS4 will go for 7,200 yen and the limited edition (shown above) for 10,980 yen. The standard on PS Vita will cost 6,100 yen and the limited edition will go for 9,980 yen, all plus tax. Additionally, first-print copies will include a product code for an in-game costume.
Sword Art Online: Hollow Realization will release in the West sometime in fall 2016.
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