#Oculus Rift’s latest VR headset, named the Pacific, will be available with a massive price drop. Amid great competition from HTC, Sony, and Samsung, the new virtual reality headset will have a price tag of not more than $200, Deccan Chronicle reported. The device will also come along with features that enthusiasts wanted to be added to the VR headset.

Pacific VR headset powered by Qualcomm’s mobile chipset

The budget-friendly price of Oculus Rift’s latest VR hardware addresses the declining market share of Facebook’s Oculus VR division. The Korea Portal reported that the price ranges of the Oculus Rift are from $300 to $350.

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Nonetheless, the Pacific virtual reality headset will be up for grabs for only $200. Aside that the device will be powered by Qualcomm’s mobile processor, the new #Pacific VR headset will be lighter compared to Samsung’s #Gear Vr.

The new VR device is developed to be more compact, more powerful graphics, along with cameras that will use inside-out tracking. As Oculus VR’s new headset is powered by Qualcomm’s mobile chipset, the device will not need to link to a smartphone or PC to enjoy a virtual reality experience. The hardware also works without much fuss.

Facebook’s Oculus VR division plans to revolutionize the new device, and the tech company wants the new VR headset to be used daily just like smartphones. However, the new headset will be available next year and aims to make a new category for the virtual reality industry.

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According to Bloomberg, Oculus spokesman Alan Cooper stated that although they don't have the new hardware to unveil just yet, but they can confirm that they are making a number of significant technology investments in the upcoming VR device. The device will be the company’s addition to their commitment to high-end virtual reality devices such as Gear VR and Oculus Rift.

Nevertheless, the design and features of the new headset aren't finalized. But, the company pitched in the idea that users will be able to pull the device out of their bag and watch their favorite films just the way these users can do with their tablet and smartphone. If the new device strikes a chord with VR enthusiasts, it could help the tech company gain market share in the industry.

Distribution of the device

As for the distribution, Oculus VR plans to collaborate with Chinese company Xiaomi for the device’s global distribution. The VR headset’s worldwide version is expected to come along with Oculus branding, while the Xiaomi branding will be implemented in China.