According to Sony, Project Morpheus is almost complete. Over 85 percent of the work necessary to release a consumer model of the headset is already done. Unfortunately, there is still a lot more work to be done, enough that the company could not put their finger on a concrete release date, nor could they quote an official price.
This information comes from Shuhei Yoshida, at the Tokyo Game Show. He could not comment on what work was left to be done, however Sony has frequently said that they are looking into ways to improve the headset’s hardware while keeping price down. He also said that Sony refuses to release the Morpheus until it has a powerful launch line-up which will make it appeal to the common man.
“We are hoping that once we introduce Project Morpheus to the market, the attractiveness of PS4 will increase and the PS4 could be received by many more people who are not necessarily core gamers,” Yoshida said.
Source: Gamespot