Sony's virtual reality headset PlayStation VR "isn't quite as high-end" as Oculus Rift, Oculus VR co-founder Palmer Luckey has claimed, telling IB Times that the two devices are actually targeting two different markets.

"I think that there's not many people who already own a PS4 who don't own a gaming PC who are going to go out and make that roughly $1,500 all-in investment in the Rift," Luckey explained. "It really is a separate market. They're bringing virtual reality to a different group of people who I don't think were ever really a part of our market anyway.

"It's also worth noting that their headset isn't quite as high-end as ours - it's still, I think, a good headset - and the PlayStation 4 is not nearly as powerful as our recommended spec for a PC."

A PC powerful enough to run the Rift would come in at around $1000 (£686), Luckey says, compared to PS4's £299.99 price tag.

The 'high-end' £499 Oculus however, is "the bare minimum that's required to make a device that delivers presence, that anyone can use comfortably," Luckey states, suggesting PlayStation VR may ship with some compromises.

"We wanted to make hardware that everybody could use," he said. "The Rift is really at the bare minimum of what that takes but also at the top end of what you can make with today's available technology."

Sony has yet to announce a price for PlayStation VR, which will be released as a PS4 accessory later this year.