PlayStation VR will be out in October for 399$
There are few big players in the VR market including HTC, Oculus and Sony. HTC Vive VR and Oculus Rift only works with a PC, but PlayStation VR is the only VR that works with a console.
Sony made a meeting in Game Developers Conference 2016, and announced the price and the release date of the PS VR. Even though there is no exact date, it will be out in October. That is actually late since you will be able to buy Vive VR or Oculus Rift sooner. The price tag will be 399$. It is cheaper than Oculus Rift ( 600 $ ) and Vive VR ( 800 $ ), but you can buy a pS4 for that price.
Since it is produced by Sony, it is aimed to work on the PS4 for which it is easy to use. For example, it is ridiculously hard to connect the Oculus Rift to your PC. In this case, the only thing that you will need to do is connecting the PlayStation VR to PS4 via its cable.
However, as you know, it requires a lot of power to run VR games on PC ( that it why Oculus Rift requires GTX970 ) for which you should not expect high VR graphics on PS4.