PlayStation VR is the last among the three major VR gaming moguls to reveal the gadget's release date and the much awaited price.

According to BBC, the PlayStation VR turned out to be the cheapest among the three with a market price set at $399.

Currently, the HTC Vive has the highest market price of around $800 for the package and Facebook's Oculus Rift following the suit at $600. Unfortunately, the PlayStation VR will not be available in the market at least until October this year, majorly contradicting their previous announcement that it will be available not later than the second quarter of 2016.

Although Sony did not specify the main reason why they are delaying the launching, the possibility of making room for games to be included on the VR set is notable. Currently, the Japan-based gaming platform targets at least 50 games on the PlayStation VR, prior to its launching date.

Sony downplays any talk about revenue in terms of the PlayStation VR's marketability. What's really good about the company, is their willingness to lose during launching, in exchange of a better market in the long run.

Geoff Blaber from CCS Insight said "Next-generation consoles have historically been sold close to -- if not below -- cost and PlayStation VR is likely to be no different. Sony has a big opportunity to build an early leadership position and extend its PS network to a new platform."

Sony's timing couldn't be better, despite the Oculus Rift and HTC Vive going ahead with their separate announcements. According to Piers Harding-Rolls, an IHS analyst, Sony could use the chance to study their pricing and make a once in a lifetime offer that will make the market on VR an advantage on their part.

In his statement, Harding Rolls said "When Oculus and HTC announced their relative headset pricing, Sony was offered an open goal opportunity to take an early lead in the consumer VR market, which it has taken with aplomb."

Some important information about the PlayStation VR includes the resolution, which is set to 1,920 x 1,080 pixels, field view of 100 degrees, refresh rate at 120 Hz, controllers of DualShock 4 gamepad, PlayStation 4 motion-sensing camera, DualShock 4 gamepad and PlayStation Move hand batons.