Report: Samsung making virtual reality headset

Electronics giant Samsung may make a jump into the virtual reality business.

According to Engadget, which cites sources close to the company, Samsung's mobile division is working on a virtual reality headset that will launch later this year.

The headset would reportedly be compatible with future Galaxy smartphones and tablets. The report also says the device features an OLED screen and will start at a lower price point compared to competitors.

The virtual reality space has drawn buzz recently with the arrival of the Oculus Rift headset for games. The device prompted Facebook to spend $2 billion to acquire Rift creators Oculus VR.

Sony has also jumped into the VR space with its own headset, Project Morpheus. The device is currently in an experimental phase.

Follow Brett Molina on Twitter: @brettmolina23.