Sony has delayed its PlayStation VR headset until October, and it will go on sale for 349.
That's significantly below the cost of Oculus Rift (500+) and the HTC Vive (700+). However, it is the same price as the PS4 was when it arrived in 2013 (350).
PlayStation CEO Andrew House claims that the hardware will be profitable from launch.
That price does not include the PlayStation Camera, which is a requirement for the VR experience. Some players may already own the PlayStation Camera, which has been available for PS4 since launch.
The delay gives Sony the chance to finalise its software line-up, which includes a number of first party products such as RIGS, Until Dawn: Rush of Blood, Driveclub and Playroom VR.
There will also be a Star Wars: Battlefront VR experience.
In total, Sony expects 50 VR titles to be ready before the end of the year.
The news was announced at a press conference during the Games Developer Conference.
Analysts have already backed PlayStation to be the most successful of the VR manufacturers this year. IHS estimates that 53m PS4s will have been sold by the end of the year, giving Sony a larger addressable market than HTC and Oculus.
The firm also says that Sony had been gifted an ‘open goal' by the price of the Oculus Rift and HTC Vive. It estimates that 1.6m PlayStation VR headsets will be sold by the end of 2016.
Sony has confirmed that over 230 developers are working on the PlayStation VR platform,” the company wrote.
Sony's existing in-house expertise and third-party relationships means it is well positioned to build a strong body of content for launch of the platform.
Sony's walled garden approach to the PS4 platform means it is well placed to provide a better controlled and consistent VR experience to consumers. This will be important in driving adoption and positive word of mouth for PlayStation VR.