Sony's PlayStation VR headset will hit the retail market in October of this year for about $400. The Japanese electronics giant made the announcement on March 15, Tuesday at the Game Developers Conference (GDC) in San Francisco. PS VR was originally code-named Project Morpheus and will take on other virtual reality devices including Facebook's Oculus Rift, HTC Vive, and Google Cardboard.   

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Sony Computer Entertainment CEO Andrew House revealed at GDC that over 230 developers are working on content for PS VR. The company plans to roll out about 50 games with the VR headset, while Lucasfilm, EA, and Digital Illusions Creative Entertainment (DICE) are building a Star Wars: Battlefront experience, according to Engadget.  

The retail version of PS VR will feature an OLED display, 5.7-inch screen, and 1920 x1080 resolution. It will also include 360-degree tracking, 3D audio, and latency (response time) under 18 minutes.      

PSVR will be shipped with the headset; processor unit; VR, HDMI, and USB cables; headphones, and power supply. Playroom can also be downloaded for free to provide six mini games for the VR device.  

PlayStation VR will also include a feature called Cinematic Mode that will allow users to enjoy content on a virtual screen. It will support PS4 games and videos. VR fans can also view 360-degree pictures and videos captured using PS4 Media Player that will create the virtual experience of physically being in the captured scene.   

Sony's VR headset will cost $200 less than Oculus Rift that will be rolled out later this month, and half the price of HTC Vive that will launch in early April. Sony's cheaper price is partly due to the headset running with PS4 instead of requiring a special desktop.

The tech giant also announced that PlayStation Camera will not be bundled with PS VR, according to Kotaku. It shared that the device and PlayStation Move controllers are required for the PS VR but must be bought separately.  

House shared that the company scheduled the October 2016 release for a few key reasons. It will be able to produce enough units and provide a cornucopia of software titles.

Here's a PS VR demo: