Sony currently has its press conference going on now over at the Game Developers Conference. They have officially named their motion controller, Playstation Move. The Move will also be avaialble in store shelves for what everyone wants to hear; under $100!!

"The Move is fast precise and accurate. From the tiniest twist to the strongest punch, you can express yourself. This is the next generation of motion gaming," said Peter Dille, Senior Vice President of Marketing and the PlayStation Network. "Nothing has been this precise."

The system uses the PlayStation Eye, the Move wand and the PS3 itself to register player movements and translate them into on-screen actions. Dille said Sony plans to launch the system this fall. A bundle will be available that includes the Move controller, the PlayStation Eye and an unnamed game.

Via IGN, more news to fcome as it develops.