A Samsung rep has priced the Galaxy Gear VR at $199, according to Venture Beat.

Created in partnership with Oculus VR, the virtual reality headset is set for release before 2014 ends. Current speculations mark October as the big month. While the device was not priced at IFA 2014 in Berlin, Venture Beat reportedly acquired information from Samsung's spokesperson during the ongoing New York Fashion Week.

Since the Galaxy Note 4 technically provides the vision for Gear VR, one will ultimately have to purchase both products. Venture Beat estimated the final pricing saying, "$199 for the Gear VR unit, not counting the cost of the Note 4 smartphone, which is rumored to retail for $799 - or $299 with a contract."

These figures are speculative, since Samsung has not yet made an official press statement. But given that the $200 feed to be true, it would come cheaper than the Oculus Rift Development Kit which currently sells at $350. 

"The Samsung Gear VR is powered by Oculus technology, which Samsung says will 'enable users to fully immerse themselves in a cinematic virtual reality environment,'" said PC Advisor.

In addition, it uses the 5.7in Quad HD Super AMOLED display of the Galaxy Note 4, accelerator, gyrometer and magnetic and proximity sensors to facilitate the 360 degree experience. There is no need to worry about the device lagging as a super accuracy sensor is included.

A touch pad, back button, and volume key are found on the completely-wireless hardware. It comes in a Frost White color that is designed to be lightweight, enabling a comfortable VR experience.

The Verge noted that Samsung's virtual reality headset has a higher resolution that the latest Rift development kit--thanks to the Note 4's 2560x1440 Quad HD screen.

No official release date is announced for the Gear VR, and it is projected to be dependent on the release of Note 4, which has no definite release date as well. Christian Today said tha confirmed carriers for the Note 4, include AT&T, Sprint, T-Mobile, Verizon Wireless, and US Cellular.