Facebook Inc (FB) Oculus Rift to Cost $1500, Available From Q12016

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Gaming lovers will have to shell out more for the upcoming Oculus Rift headset owned by Facebook Inc (NASDAQ:FB). According to Oculus CEO, Brendan Iribe, the product and the high-power computer will cost buyers $1500. The Oculus Rift headset are planned to go on shelves in Q12016 and the bookings will start in the last quarter of 2015.

Iribe said that the company was also hoping to see a drop of $500 in the cost and bring it to $1000. Facebook is currently updating the system to help gamers interact with the virtual world through a joystick or hand tracking gear. He did not reveal what the users need to pay if they buy the Oculus Rift headset alone. Further advancement in technology can help lower price given that the cost would reduce.

The Rift Revolution

The Rift can usher in a revolution in the way users interact with virtual systems. Facebook acquired Oculus for $2 billion, and this is the first product from the latter, post acquisition.

Nate Mitchell, Vice President-Product at Oculus VR said that they were extremely excited to launch the Oculus Rift and is eager to see it hit the markets in Q12016. In an official statement, he said that The Rift was a positive step in realizing consumers’ VR dreams.

VR Concept

The concept is fairly new and other tech companies are also working on launching similar products. Facebook wanted to keep the technology simple and easy; as easy as sharing a post on Facebook. Virtual reality (VR) is ushering in a new era and is set to transform the entire entertainment industry, including films, gaming and communication among others. Mitchell said that the Oculus Developer Center is highly advanced and can be used to develop any VR application or game.

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Neha Gupta
Neha Gupta has cleared CFA Level 2 from CFA Institute (USA) and completed PGDBA in Finance. She has worked in diverse capacities from financial research to currency trading in a span of 3 years. Neha also covers technology news for Insider Monkey, and has a penchant for smartphone stories.

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