The FINANCIAL -- At an event at the Game Developers Conference in San Francisco on March 11, Sony has officially unveiled its highly anticipated PlayStation Move motion controller that arrives in stores this fall.

According to The Wall Street Journal, the Japanese electronics company said the controller will be called PlayStation Move and will be available in the fall. A starter kit with a game will be priced at less than $100.

The company aims to take motion gaming a step beyond what Nintendo has offered with its Wii console, which has been tremendously popular with families, as the same source reports. The Move controller could control game action by allowing users to wield it like a sword, for example, or like a table tennis racket.

"We have been bringing consumers what they have been asking for: a more precise, responsive, and immersive gaming experience," Sony Computer Entertainment Studios president Shuhei Yoshida said, introducing the Move, according to PC Mag com.

Used with the existing PlayStation Eye camera, Sony's new wireless motion controller can track players' body movements. The controller, in turn, has on its end a light-emitting orb that is recognized by the camera, AP reports. "Nothing has ever been this precise," said Yoshida. The PlayStation Move will go on sale this fall.

Major game publishers such as Activision Blizzard Inc., Electronic Arts Inc. and Square Enix are developing Move-compatible games, according to the same source. The latest announcement comes as both Sony and Microsoft Corp., maker of the Xbox 360, attempt to gain ground on Nintendo. Since the Wii first hit stores, it has consistently outsold rivals by attracting casual and nontraditional gamers like women and seniors. Microsoft is planning its own offensive this year as well with its "Project Natal."

Natal, however, will be entirely camera based, using the whole body as a controller, PC Mag com reports. While the PlayStation Eye will sense motion, the Move is being used as a primary controller, capable of subtle gestures that Natal may or may not detect.

According to the same source, games that will use the Move will include "SOCOM 4," "Little Big Planet," and "Move Party," a game that will include a suite of minigames for players to compete in, using the Play controller.

Although demand for the Wii has slowed in recent months, it remained the most popular console among Americans in January with 465,000 units sold, according to market researcher NPD Group, AP reports. Microsoft sold 332,800 units of the Xbox 360, trailed by 276,900 PlayStation 3 units.

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