While Iribe refused to rule out a console launch completely, he claimed the ongoing innovation in the mobile sector and the ability for users to just plug and play makes it a better option.
While dismissing the possibility of a 2013 launch, the CEO said a 2014 launch will only come "if its right," while also pledging to try and keep the costs under $300 (£196, AU$£26).
More mobile innovation
"I love consoles but internally we're a lot more excited about where mobile's going to go, and being able to plug it right into a next gen cellphone," he told the gaming publication.
"It's the innovation, and how fast cellphones are now improving – where we'll be with the next Galaxy or the next iPhone compared to where consoles are. Those things are almost doubling every year, compared to a console that's just stuck it out for eight years – it just makes us very excited.
"There's a lot of improvements that can be made on the hardware side for VR that no-one's doing yet because it's a new thing. The mobile rate of innovation is going to be able to make a lot of those improvements."
Sign up for Black Friday email alerts!
Get the hottest deals available in your inbox plus news, reviews, opinion, analysis and more from the TechRadar team.
A technology journalist, writer and videographer of many magazines and websites including T3, Gadget Magazine and TechRadar.com. He specializes in applications for smartphones, tablets and handheld devices, with bylines also at The Guardian, WIRED, Trusted Reviews and Wareable. Chris is also the podcast host for The Liverpool Way. As well as tech and football, Chris is a pop-punk fan and enjoys the art of wrasslin'.