PlayStation VR set to launch this October for USD 399

"PlayStation VR represents a transformative experience in gaming, and we wanted to take the time needed to launch with a broad variety of content and a sufficient supply of hardware. We are beyond excited to deliver to consumers the amazing experience that PS VR offers", said Andrew House.

The price can almost be considered cheap if you already own a PlayStation 4, and even if you don't, the total cost is much less than Sony's VR competitors. The Oculus Rift starts at USD 599 and Valve's HTC Vive will sell for USD 799, but both of those headsets require powerful PCs that can cost much more than PS4. (The cost of PS4 is USD 299)

Sony has also released the technical specs of the PlayStation VR: the main 5.7-inch OLED screen is capable of displaying games at up to 120 frames per second, and has a resolution of "1920 x RGB x 1080," meaning each pixel gets full RGB colour.

The company has also promised that 50 games will be released between October to December 2016. Sony said that the VR version of Star Wars: Battlefront that will be exclusive to the PlayStation VR.