Sony's announcement of the pricing and release date of the PlayStation VR, a virtual reality (VR) gaming system, has set the scene for tough competition among tech giants offering VR products.
A report by market researchers SuperData estimates VR gaming software and devices generating $5.1 billion in revenue in 2016.
This week, Sony Computer Entertainment CEO Andrew House revealed the PlayStation VR will be released in October with a price tag of $399.
In comparison, the Facebook-owned VR system, the Oculus Rift, will cost $599, while the HTC Vive will cost $799.
However, the Vive and Oculus Rift will require expensive, high-end PCs in order to play games, while the PlayStation VR will only require a PS4 gaming console.