Sony's Oculus Rift competitor Project Morpheus is 85% complete

The Oculus Rift virtual-reality headset is coming soon, but Sony could beat it to market with its own device.

The PlayStation company is hard at work on Project Morpheus, a head-mounted display that connects to the PlayStation 4 and creates an immersive VR experience. While Sony still won’t say when it plans to release Morpheus, it confirms that it is nearing completion of the development process. Sony Worldwide Studios boss Shuhei Yoshida explained that the team designing Morpheus has finished 85 percent of the work to get to a final product, according to The Wall Street Journal.