Today at Oculus Connect 2 in Hollywood, California, Samsung Electronics Co., Ltd. exec Peter Koo announced that a new consumer version of Samsung Gear VR would be hitting the market at an incredibly low price point of $99 later this year. This is about half of the current price of the Gear VR Innovator Edition, which currently retails for $199.

“At Samsung, we aspire to build the best consumer electronic devices,” Koo said to an audience of VR developers. “And together with world class companies like Oculus, we are creating a whole new universe of possibilities in virtual reality. Virtual reality on the go, powered by a device that’s already in your pocket: Samsung Galaxy smartphones.”

“Today, Samsung and Oculus are excited to share with you an all new Gear VR,” he continued. “A device that will help take mobile powered virtual reality mainstream, and that is the virtual reality for everyone.”

Koo explained that the low price for Gear VR is to allow “everyone to join the mobile VR movement” echoing similar statements made by Oculus founder Palmer Luckey, who recently said that the price of Oculus Rift would be as low as the company could realistically make it.

Koo noted that the new Gear VR device is 22 percent lighter than the previous model, making it more comfortable to wear for extended periods of time, and it features improved touchpad controls for ease of use. The new device will also work with Samsung’s entire line of 2015 mobile devices, including the Galaxy Note5, Galaxy S6, Galaxy S6 Edge, and Galaxy S6 Edge+.

In addition to improvements to the device itself, Gear VR will also have access to more content than ever thanks to new partnerships between Oculus and multimedia platforms like Netflix, Hulu, and Twitch.

The new Samsung Gear VR devices are scheduled to begin shipping in the U.S. in November “in time for Black Friday,” said Koo.

While Gear VR itself may not be nearly as powerful as Oculus Rift, Oculus CTO and industry legend John Carmack has repeatedly stated that he believes mobile devices like Gear VR are the real future of virtual reality.

Photo by pestoverde