Sony is currently working hard making their Virtual Reality initiative Project Morpheus come true, and in an interview with Ft.com Sony's US Playstation boss Shawn Layden says it will revolutionise video games in just a couple of years:
"In a couple of years from now, we are going to see virtual reality changing the entire gaming experience."
Sony hasn't announced any release date for Project Morpheus (in fact, they haven't even officially announced it as an upcoming product - just a prototype) and Layden states in the interview that it will happen "when we have the technology and the production costs and the hardware issues completely worked out but also when we have the right experience [in terms of games and content]."
That makes it sound like Sony are investing big money and resources in games for Project Morpheus and Layden does say they (as well as their competitors) are trying to develop a "killer app".
Layden also says that Sony is interested to see Project Morpheus being used for other apps than just games, and finishes by stating:
"We have to concentrate on delivering this VR experience in a meaningful and attractive way in the gaming world first. Without success in that realm, it would be difficult to start to branch off."