Xiaomi has a new low-cost virtual reality headset, and this one comes with a controller and some content you can play with.

On the sidelines of curvy Mi Note 2 announcement, the Chinese company today also unveiled the Mi VR. The headset looks quite different from its predecessor Mi VR Play, with an additional flap on top. The odd flap is presumably there so that the headset feels more comfortable while wearing. The Mi VR carries an impressive price tag of RMB 199 ($29).

Apart from the price, there are some other noticeable things in the Mi VR. The company says the new headset comes with "hardware-level" motion sensor, resulting in improved latency of up to 16ms. The low latency combined with a high-end smartphone would ensure that you won't get motion sickness, which is the case with most VR headsets when you use them for more than a few minutes.

Another remarkable thing about the Mi VR is its controller, which features a nine-axis inertial motion controller, and also supports touch control.. It looks similar to the remote you get with the Google's Daydream View VR headset, though Xiaomi did not confirm whether it is compatible with Daydream, Google's new VR platform.

Image: Xiaomi

This time around, Xiaomi is also ensuring that there is enough content to keep users hooked to the device. It has unveiled a MIUI VR store, which has over 500 panoramic videos, and more than 30 VR apps. The company noted that more than 200 developers have signed up for the platform to make apps.

On the down side, there's no international availability just yet. The headset will work with recently launched, high-end Xiaomi smartphones — the Mi Note 2, Mi 5s, Mi 5s Plus, and the Mi 5. It's not clear at this point if the Xiaomi Mi VR will work with other smartphones.