The Sony Motion Controller is expected to launch this Spring. If Electronista (via VG247) is correct, this new product will be named the Sony Arc. This information comes courtesy of an anonymous source.
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Sony has yet to give us a name for this product, but they have confirmed that its old internal code-name was the Gem. We've been told that the controller will launch this year, and Sony has let slip that it could be launching in March. It's unlikely we'll know any more until the release is imminent but, thankfully, that day doesn't appear to be very far away.