In a short statement sent to media outlets, Valve said that details regarding pricing, release dates, and territorial availability of the headset will be announced at some point in the future.
What can we expect?
LG plans, according to Valve, to spend the week meeting with developers to collect feedback and impressions as "part of its effort to define the first commercial units".
There's no information yet on features, pricing, technology or even when we might get further glimpses of this LG headset, but new technology furthering the medium could be of real interest to those now developing in virtual reality. There is now no price set for the LG VR headset.
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LG has been tight-lipped on information, but the headset could be announced soon.
This is not the first time that the Korean company entered the virtual reality market.
LG looks like another upcoming player in the VR landscape. Not to be confused with the company's own LG 360 VR, which is a much simpler design that now works with only one device the ill-received LG G5 smartphone.
Valve has confirmed today that it has roped in LG to work on its SteamVR platform at this year's GDC. The VR headset is expected to directly compete with the Oculus Rift and HTC's Vive. In comparison, the PlayStation VR headset is $399, so it will be interesting to see what price point LG chooses for their newest venture.