You need to get a PlayStation VR headset, right now.

Sony Corporation is a popular brand for televisions and smartphones. It is also an established brand in the gaming industry with its PlayStation. Now, Sony is an active part of the virtual reality industry with PlayStation VR. The headset is available in the market for $399.The Japanese electronics group is hoping that competitive price will revive its reputation as a must have gadget maker.

The move of Sony to dabble in the VR industry with PlayStation VR comes as a restructuring. The demand and competition in the television and smartphone market is rather flat and acute. It also has thin profit margins. The gaming unit is now another contributor into their range of gadgets that have more profit opportunities.

PlayStation VR is compatible with PS4

Sony has to compete against big brands in the industry to carve its niche in the VR. Facebook Inc has released Oculus Rift for $599 and HTC Corp has $799 Vive. Both are very popular brands in the VR industry. Sony is now competing head on with these brands through PlayStation VR headset that has a modest price and uses existing consumer base of its flagship console. The headset can be plugged into PS4 instead of needing new equipment. IHS Technology predicts sales of 1.4 million units in 2016 in a report.

Read about where you can find Bohemian Rhapsody on VR

Talking about market competition it is said that Oculus business will $500 million in VR content development and is on the works for an affordable standard VR headset which does not require personal computers and consoles. Intel and Qualcomm are also working on VR headsets. Their technologies revolve around helping developers make headsets using their chipset and systems. The biggest rival of Sony, Microsoft Corp plans to release a new Xbox One console next year in the gaming industry. Rumors have it that the console will support VR headset of its partners including Oculus.

Image via Gamezone