The device works with the Samsung smartphones Galaxy Note 5, S6, Edge and Edge+.

The Samsung Gear VR was first announced back in July 2014 with the South Korean company pulling off something of a coup to partner with arguably the leading virtual reality (VR) headset maker, Oculus.

The new gear, which Samsung claims is 22 percent lighter than the previous Gear VR Innovator Edition, has an accelerator, gyrometer, proximity (mount/unmount detection) sensor and is more comfortable to wear. Thankfully, Samsung is showing us the way with a new Gear VR headset which is shipping in November. It was also the only easy way to get your hands on a complete VR setup – Google created its cheap “Cardboard” VR, but it’s hard to seriously compare a folded piece of cardboard to a manufacturer-backed product like the Gear VR.

To be clear, though, the video content coming from Netflix, Hulu and the others (with the exception of Facebook’s video efforts, which are spherical, 360-degree experiences) will not be immersive in nature.

Just imagine what the world will be like once everyone owns a VR headset.

Last month, Samsung CEO JK Shin mentioned that the next-gen Samsung Gear VR is expected to launch soon. Oculus also announced a virtual reality version of Minecraft that will be compatible with the Gear VR, according to Oculus CTO John Carmack.

VR specific games will also be released in the first quarter of 2016 for the Oculus Rift. Vimeo and Tivo are reportedly on board as well, but will not be there at launch. At a direct conversion, this works out to around £65, but it’s probably more likely to cost £78 or £80 once you add on VAT.

The payment technology is being touted as the next big development in retailing as Americans gradually abandon cash and credit cards to make payments with their mobile devices.

Along with playing games, consumers will be able to watch movies on the Oculus phone headset and the Rift.