Facebook plans to unveil cheaper wireless Oculus VR headset this year

The device's design and features aren't finalized and could still change, but the idea is that someone will be able to pull the headset out of their bag and watch movies on a flight just the way you can now with a phone or tablet.

At Oculus's developer conference past year, Facebook Chief Executive Officer Mark Zuckerberg described a "sweet spot" for a device that sits between the Gear VR and Rift.

This problem contributes to Oculus VR's market share drop as the usual Oculus Rift price ranges from $300 to $350. However, Oculus will reportedly release a second-generation version of the "Pacific" headset that will offer positional tracking functionality.

The same report added that Oculus is planning to power the VR headset with a Qualcomm chip, but the latter reportedly declined to comment on the matter. 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.

Oculus Rift Finally Addresses Budget Conscious Consumers

As for the distribution of this new VR hardware, Oculus VR laid its plans to work with Chinese company Xiami in a contract for the new headset's global distribution. However, the new headset will be available next year and aims to make a new category for the virtual reality industry. Speculation is that a new version of the headset maybe on the way and Bloomberg are reporting exactly that.

On the other hand, an Oculus spokesperson also told Bloomberg: "We don't have a product to unveil at this time, however, we can confirm we're making several significant technology investments in the standalone VR category".

A gamer plays a game with the virtual reality head-mounted display "Oculus Rift" during the International Games Week on October 29, 2014 in Paris, France. If the new device strikes a chord with VR enthusiasts, it could help the tech company gain market share in the industry. But overall, the sources were confident that the standalone headset from Oculus will be more powerful than the Samsung Gear VR.