Samsung intends to pull the rug out from underneath Sony and Oculus by announcing its own virtual reality headset later this year, and beating its competitors on release date and recommended retail price.

Engadget reports that the VR headset will work with a new generation of soon-to-be-announced Samsung Galaxy smartphones and tablets.

The site adds that a prototype of the headset features an OLED screen that is as good- or better than the screen used in the latest Oculus Rift prototype.

Already, some industry commentators are questioning whether such a "hardcore" device will be popular on such a "casual" platform.

In a separate interview with Engadget, Oculus founder and CEO Luckey Palmer said, "I think really bad VR is the only thing that can kill off VR."