Given Samsung's propensity to compete in virtually every conceivable product category, this isn't too surprising: The company is working on its own version of the Oculus Rift and plans to unveil it this year.

Samsung has even shipped prototypes of the device to some developers already, according to a report in Engadget. Rather than being a PC or game console peripheral, Samsung's headset links to a Galaxy phone to create its virtual environment. It's a demanding device, though: The consumer version will require the power of next-generation flagship processors, the report states.

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Samsung apparently wants to beat both Facebook and Oculus, as well as Sony's Morpheus to market by debuting the device this year. There's precedent for that kind of approach: Samsung got out early in the smartwatch market by debuting the Galaxy Gear in September 2013, although it paid a price in high return rates and poor reviews for the version 1.0 device.

So far, there are no photos of the alleged prototype headset, but the report has a few details: The immersive headset display will use an OLED screen; Samsung is targeting a lower price than its competitors are; and it will be used primarily for games (at least to start). The headset won't run Tizen, the OS in the new Gear watches. Engadget predicts it will use a wired, rather than wireless, connection to minimize things like lag.

Oculus VR rekindled interest in virtual reality technology after its Oculus Rift headset blew the doors off its Kickstarter campaign in 2012. The category became white-hot this year after Sony debuted its own take on the technology and Facebook acquired Oculus for $2 billion. Beyond gaming, VR headsets could eventually provide complete virtual experiences, including social interaction and shopping.

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