Sony Computer Entertainment Australia has just confirmed that its highly anticipated PlayTV accessory will be released by the end of the month. This new device will transform the Playstation 3 into a PVR and HD digital tuner.

According to SCEA, PlayTV will be available in Australia on 26 November at a RRP of $169.95. This very competitive price point is set to severely shake up the PVR market and the likes of Foxtel and TiVo.

PlayTV will allow PS3 users to watch, pause and rewind free-to-air TV. The built-in twin HD tuners also allow consumers to watch one program while recording another, the ability to play games or watch Blu-rays at the same time is also incorporated.

“PlayTV further extends the broad entertainment credentials of PS3, and makes it a must-have item for every Australian family,” said Michael Ephraim, managing director of Sony Computer Entertainment Australia and New Zealand.

“PS3 already provides the best High Definition gaming, Blu-ray Disc movie playback, VidZone music video streaming, video, photo album, web browsing and PlayStation Network content. With the introduction of PlayTV’s state of the art TV tuner and PVR functionality, PS3 continues to be the best choice for the home entertainment needs of the Australian family.”

The new device is also beneficial to PSP owners who will be able to watch live TV and their recorded programs on the go via Remote Play or via WiFi. Consumers can also set recordings and record TV programs remotely while away from their PS3.

PlayTV also has a built-in Electronic Program Guide with a seven day interface, which can all be controlled by the SIXAXIS controller or Blu-ray Remote Control for PS3.

Sony is confident that its new device will be future proof and will evolve over time. This is due to the fact that it can be updated via the Playstation Network.