The $99 device lets users stream video, older PlayStation titles and games for Sony Corp (ADR) (NYSE:SNE) (TYO:6758)’s hand-held Vita system to any TV. The “micro-console,” also lets PlayStation 4 players send the action to a second TV.

Sony Playstation TV

Sony is winning the race so far

Since Microsoft and Sony Corp (ADR) (NYSE:SNE) (TYO:6758) both launched their next-generation gaming (and more) consoled in November, Sony has taken a comfortable lead with 7 million Playstation 4 consoles sold while Microsoft Corporation (NASDAQ:MSFT) has sold 5 million Xbox One consoles. While it would seem a clear lead for Sony both companies are delighting in the fact that they are outselling their predecessors the PlayStation 3 and the Xbox 360.

Microsoft is viewing the lead as a gap that they can close

Sony Corp (ADR) (NYSE:SNE) (TYO:6758) has led Microsoft Corporation (NASDAQ:MSFT) since both companies began selling their latest consoles in November. Sony has sold 7 million PlayStation 4 consoles to Microsoft’s 5 million Xbox One units. However, both companies have outpaced the sales of their predecessor consoles — the Xbox 360 and PlayStation 3 — during the same amount of time. And Sony’s lead is far from insurmountable.

It’s expected that the “micro-console” will carry a price tag of $99.

The announcement was made today by Shawn Layden, the chief executive of Sony Computer Entertainment for North America at Sony’s press conference during the opening day of the E3 video game convention in Los Angeles.

PlayStation TV will join Roku, Apple TV and Google Chromecast as devices that allow users to stream content from other devices to their primary television.

The features include:

  • The ability to use the Playstation 4 remotely. For example, if the PS 4 is located in the living room, players could move to their bedroom where the PS TV system and continue their game play.
  • Once Playstation Now is inaugurated over the PAL region, gamers will be able to stream PlayStation 3 games via Playstation TV.
  • PlayStation TV will offer a full lineup of games that were made for the PS Vita, PSP, and Classic PS One all of which can be played with a Dualshock 3 or Dualshock 4 controller.

Andrew House, The CEO of the Sony Computer group added that “We want you to share our vision for the future of gaming . Playstation is the best place to play above all else. You are a member of an extensive community of rivals and friends.”

Sony Corp (ADR) (NYSE:SNE) (TYO:6758) will also begin producing television shows exclusively for Playstation TV beginning with a sci-fi crime drama called “Powers” towards the end of the year as well as a Halo series produced by Steven Spielberg and Halo digital feature produced by Ridley Scott.