Virtual reality headsets are becoming big business, but Sony and Facebook certainly aren't the only companies looking to grab a piece of the pie; Samsung is said to be planing a VR solution for its smartphones and tablets.

Engadget has the scoop that Samsung is vying to become the latest to stake a claim in the virtual reality market with a headset for its next-gen Galaxy devices.

According to unnamed developers who managed to get an early peek at the peripheral, the project is separate from the so-called "Galaxy Glass" wearable and more along the lines of the Android-powered GameFace Labs prototype.

The same sources claim Samsung is racing ahead with the intention of at least announcing the VR headset sometime this year, presumably getting a jump on competitors including Sony's Project Morpheus and Facebook's newest purchase, the Oculus Rift.

Priced to compete

Insiders claim Samsung's headset offers an OLED screen described as "good or better than" that of the latest Oculus Rift developer kit, although details on exactly how the device connects to Galaxy products (via wire or not) is unknown.

Samsung apparently plans to target its VR peripheral at Android gamers, although the report notes that big-name titles certainly won't work as direct ports without a lot of effort.

The Korean manufacturer appears willing to blast onto the virtual reality scene with aggressive pricing said to undercut rivals, although there's no indication the gadget will be dirt cheap.

Last but not least, developers claim Samsung is using something other than its own Tizen OS to power the headset, but for now the company has delivered a typically blunt "Samsung doesn't comment on rumor and speculation" in response to inquiries attempting to dig up further details on the project.