Sony has announced Playstation live on stage at GDC today as well as its release date and price. It will cost $399 and be available this October. This is a great deal considering Oculus comes in at $599 and HTC VIVE at $799. We still don't know which will be the most powerful, but for the casual user it looks like PSVR has a leg up already.
Andrew House spoke on the announcement by saying "For PlayStation VR games especially, the developer community has benefited from getting hands-on impressions" from gamers. There are now "over 230" developers working on PSVR said Andrew House. "For what it's worth, PlayStation has hardly been the most open about its VR plans — it's been a lot more private than Oculus and Valve'.