The CEO of Sony Entertainment, Andrew House, has hinted at the price of Playstation's upcoming virtual reality system in an interview.

Speaking to Bloomberg, House didn't specify the exact price of the new head-mounted virtual reality system, but did say that it will be a similar price to a new games console when it launches next year.

When the PlayStation 4 launched in the UK in November 2013, it set early adopters back by £349 - so you can expect that PlayStation VR will cost a similar amount.

The new virtual reality device also requires a PlayStation 4 to run, so the overall cost for the full system should be between £600 and £700.

It seems steep, but it could well undercut the costs of similar devices such as the Oculus Rift and HTV Vive. These two devices are expected to cost a roughly similar amount, but the additional and hefty cost of a high-end PC needed to use the Oculus and Vive make the total cost of a virtual reality system much higher.

At the launch of PlayStation VR, there's likely to be at least ten launch titles, including mech-fighting game Rigs, and Final Fantasy XIV.