The stock price of Sony Corp (ADR) (NYSE:SNE) climbed to its highest level since January 6 in Tokyo after the company unveiled its virtual-reality headset that was cheaper than its competitors in the market.
Sony’s stock price closed ¥2,883 per share, up by 3.2% in Tokyo on Wednesday March 16. The increase showed that investors were optimistic regarding the company’s venture into the next-generation gaming.
Andrew House, President and Global CEO of Sony Computer Entertainment (SCE), said, “Ever since we unveiled PS VR during the 2014 Game Developers Conference, we’ve received a tremendous response from gamers and developers alike.”
Sony’s PlayStation VR costs $399
According to the company, the PlayStation VR has a price tag of $399, lower than the $599 Oculus Rift from Facebook (NASDAQ; FB) and $799 HTC Vive from HTC Corp (TPE:2498).
The PlayStation VR will be available to the existing PlayStation users, which already reached more than 36 million. Sony said the virtual-reality headset has cinematic mode, which allows users enjoy a variety of content in large virtual screen while wearing it. It will be available in October globally.
Sony is aiming to achieve a dominant market share
Damiang Thong, an analyst Macquarie Group commented, “It’s a really compelling price that aims for mainstream market share and this is key for VR platform success. Sony probably thinks of PlayStation VR as a broader ecosystem push, something that not only will sell more PS4s, but will also encourage users to upgrade to PS5 in the future.”
According to Sony, there are more than 230 developers and publishers working the PlayStation VR software titles. Ubisoft Software titles are also in development for the headset.
The company said there will be more than 50 titles including Eagle Flight, EVE: Valkyrie, Headmaster, Robinson: The Journey Wayward Sky will be available for the virtual-reality headset by the end of the year.
SCE partnered with Tools & Middleware companies to expand further the PlayStation VR software line-up, provide technology solutions, and enhance the title development.
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