The APU in the XBox1 is significantly bigger its 3 Billion Transistors vs 5 Billion. But half of that 5 Billion is 32 MB Esram that is used to help the poor bandwith of the DDR3. PS4 went GDDR5 and was able to use more of their Transistor budget for Graphics computing ressources than XBone. But the Xbox1 Chip is HUGE and probably very expensive. Its a chip almost the size of a Titan GPU. So its not that surprising that the Xbox 1 is more expensive (also Kinect is really advanced technology and isnt cheap either).
Sony got very lucky that the GDDR5 Ram chips doubled their density in time for the PS4 to take advantage of that. In an alternate reality PS4 would have had just 4GB GDDR5 and still cost 399. MS wanted 8gb Ram very early and hat to chose DDR3 so they designed the APU around it. Microsoft was just unlucky.







