At GDC 2010, Sony announced the PlayStation Move [pictured]. The PlayStation Move is the PlayStation Motion Controller demonstrated at last year’s E3 now with a much more refined and professional look.
The controller uses the PlayStation Eye to track its position, and sensors to detect its motion. Like the Wii Nunchuk, there will be a PlayStation Move Sub-Controller which has an analogue stick and directional pad.
The PlayStation Move will be competing against Microsoft’s Natal, which is also due for release later this year, and the Wii in general.
Read more: Wikipedia
Here are some videos demonstrating the technology:

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