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Sony enters virtual reality race with PlayStation VR headset

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Sony enters virtual reality race with PlayStation VR headset

Sony Corp will join the race for virtual reality (VR) dominance on Thursday with the $399 PlayStation VR, a headset the Japanese electronics group hopes will beat pricier rivals and revive its reputation as a maker of must-have gadgets.

Emerging from years of restructuring, Sony is reshaping itself to focus on lucrative areas such as video games, entertainment and camera sensors – rather than televisions or smartphones where demand is flat, competition acute and margins thin. The games unit is now the single largest profit contributor for the group.

The PlayStation VR headset, Sony’s first major product launch since it declared its turnaround complete in June, will put the company back on the offensive and test its ability to compete in one of the most talked-about spaces in the industry.

Rival offerings in virtual reality headsets include Facebook Inc’s $599 Oculus Rift and HTC Corp’s $799 Vive.

vr-2Sony hopes to lure in customers with its more modest price tag and by tapping the 40 million existing users of its flagship consoles – the headset is designed to plug into PlayStation 4, rather than requiring new equipment.

“Sony is well-positioned to build an early lead in the high-end VR headset race,” market researcher IHS Technology said in a report, forecasting sales of 1.4 million units in 2016.

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