The PlayStation VR headset will cost €399
The Sony PlayStation VR headset will be released in October, the company has revealed.
Sony made the announcement at the Game Developers Conference (GDC) in San Francisco.
An exclusive VR version of Star Wars: Battlefront will be launched alongside the device. Sony has previously announced a number of other VR games for PlayStation VR, such as EVE: Valkyrie.
The headset will retail for €399 - making it the cheapest of the major virtual reality devices being launched this year.
The Oculus Rift, which is launching this month, will cost €700, while the Valve / HTC Vive is more expensive again at €900 (although that includes wireless controllers and cameras that can track the player's movements across a room).
The PlayStation VR will hook up to PS4 consoles, and can be used with either the standard Dualshock 4 controller or PlayStation Move motion controllers.
It has been suggested that the Sony device has the best chance of allowing for the mainstream success of VR, given its lower cost and the large install base for PS4 consoles - more than 35.9 million consoles had been sold as of January.
Both the Rift and Vive require powerful and expensive PCs to run smoothly, although it has been argued that they will allow for a far more advanced and effective virtual reality experience as a result.
However, the PlayStation device is capable of running games at 120 frames per second - with such high frame rates essential for a smooth VR experience.