This virtual reality headset is being called as Samsung Odyssey. The previous headsets such as the Gear VR were built by Facebook-owned oculus rift but with this move, Samsung seems to be going solo as oculus wouldn’t be too keen on building a rival to its own product. If everything goes as planned, then we might be seeing a full-length virtual reality headset that works like the PlayStation VR. But my guess is that Samsung might be building a headset that doesn’t require any PC to work and could work like a standalone device. This could be a different type of device with an inbuilt battery and circuitry to process the media and data. But information is scarce at this point of time.
While the release time period is not known, it is widely speculated that this headset will be shown to the world during the launch event of the Note 7. There will also be the other USB Type-C Gear VR that will be compatible only with the Note 7.