As to whether users can expect Project Morpheus to work with our smartphones and various video sources, Yoshida said that's a firm "no." Morpheus' display has to run at a speedy 120Hz to deliver a smooth visual experience, and this means it has to be connected directly to the PS4. But of course, given that the PS4 is also a multimedia hub, you can expect to enjoy 3D movies and other types of entertainment content with the headset. "Things that come to the PS4, there's a chance that [they] can be enjoyed on Project Morpheus," he said. While the company plans to talk more about Project Morpheus' non-gaming functionality and its user interface in the future, Yoshida said the focus for now is on its gaming applications.

Although Morpheus and PlayStation Home may seem like a match made in VR heaven, Yoshida indicated there's no plan to resurrect the virtual community. Nor is any company currently developing a similar service for the headset. Should something pop up later in this category, however, Yoshida believes it'd mesh very well with Project Morpheus.

Since Yoshida was in Hong Kong to meet both the local media and those from mainland China, I asked him about what it takes to bring PlayStation games into the Middle Kingdom where censorship is the norm. The exec wasn't afraid to admit that "it's a big challenge," partly because it takes a long time to get games approved. But his team is trying to work very closely with the authorities to better understand their requirements. "It's a learning experience as of now," he said.

So far, the general rule is to keep the games family friendly, which is why the likes of LittleBigPlanet 3, Final Fantasy X | X-2 HD, Driveclub, Knack, Rayman Legends, Dynasty Warriors 8 and more have made the short list of 12 games. It's been an even bigger struggle for the PS Vita, which only has eight approved games right now, of which Farming Simulator 14 is one. But as we all know, there's no stopping Chinese gamers from obtaining their favorite titles through other means.