PlayStation VR will cost less than both the Oculus Rift and Valve HTC Vive, and hit shelves this Autumn.
Sony president and group CEO Andrew House took to the stage during a PlayStation VR event at GDC 2016 to reveal the news.
PlayStation VR will cost $399/€399/£349 and release in October 2016, a move that House said would ensure there were enough games at launch for the device, with 50 games confirmed for launch in 2016.
The Oculus Rift was previously announced to cost $599, while Valve’s HTC Vive is at the top end of the range at $799.
House also revealed that there are more than 230 developers building content for PS VR, with titles teased in a showreel for the platform including Harmonix Music VR and VR Worlds.
He also confirmed that the consumer release of the headset will include a separate processor box to manage the performance needed.
Speaking specifically to the dev-friendly features of the device, House said Sony is partnering with Epic and Unity to make it easier for studios to build for the platform by supporting the use of Unreal Engine and Unity to develop PS VR content.
House also revealed an excusive Star Wars Battlefront experience on the way from DICE, EA and Lucasfilm.