Sony's relatively cheaper, premium offering might swing the momentum in its favor as the battle in the virtual reality (VR) space intensifies, according to analysts.
On Thursday, the Japanese electronics maker launched the much anticipated VR headset for its PlayStation 4 gaming console, called the PlayStation VR (PS VR). Its suggested retail price is $399, notably lower than its high-end rivals - Facebook's Oculus Rift ($599) and HTC's Vive ($799).
"I think this is very nicely priced," Bob O'Donnell, founder and chief analyst at Technalysis Research, told CNBC's "The Rundown" on Thursday.
"The other big thing, with PlayStation VR, is it works with the 40 million PlayStation 4 that are already out there. That's another huge advantage because when you talk about the Vive, the Oculus Rift, you have got to get a high-end personal computer that most people don't have."
To use the PS VR, users would need a PS4, PlayStation Camera and PlayStation Move motion controller set up; however, most games can still be played using Sony's DualShock 4 wireless controllers, according to Sony.
The headset comes with a free demo disc that contains several playable game demos. Users can also download the Playroom VR, which is a collection of six VR games created for the PS VR. In a March blog post, Sony said more than 230 developers, from smaller independent teams to larger studios, were building content for the PS VR.