PlayStation VR, known by the codename Project Morpheus during development, is a virtual reality head-mounted display developed by Sony Interactive Entertainment, which launched on October 13, 2016, It was designed to be fully functional with the PlayStation 4 home video game console
Even Andrew House, global chief executive of Sony Interactive Entertainment, the video game division of the Japanese electronics giant, had doubts about how quickly virtual reality would be embraced by the mass market. So when Sony needed to decide how many of its virtual reality headsets to manufacture, Mr. House was among those inside the company advising that Sony make fewer of them.
House says Sony's internal goal when PSVR launched in October was to sell one million units in six months, and with the revealed sales numbers so far and the demand that is continuing for the VR headset, it appears that Sony should have little trouble reaching that projection by the mid-April target date. The low stock in stores has been seen across the globe, including in Japan where the PSVR headset ended up being very popular and, as House says, has even caused lines to form outside stores when stock replenishes.
There's more detail in the Times piece about the picture of virtual reality in present day, and the advantages PlayStation VR has over its competitors because of the existing installation base and the fact it's an add-on to the PS4, as opposed to something that needs a reasonably powerful (and more expensive) PC to run.