Xiaomi VR headset is already out in the market in China. It maybe inferior to the Oculus Rift or the Samsung's Gear VR, it has still the advantage of having low price.

The Xiaomi VR headset is a Chinese-made VR system that could accommodate smartphone screens ranging from 4.7 inches to 5.7 inches. This VR headset features a dual zipper with a double forward opening to fit the mobile device better. The company made the device out of the comfortable materials, EVA and Lycra. These materials are less irritating and are much more comfortable, iTech Post reported.

Meanwhile, the Oculus Rift VR headset is a head-mounted device that sports two OLED displays that has 1200x1080p screen resolutions that processes at around 90 Hz. The Oculus VR headset is also equipped with a 360-degree IR sensor, a gyroscope, an accelerometer, as well as microphones and headphones. The Xiaomi VR headset weighs only 209 grams while the Oculus Rift is much heavier at 363 grams. To play 2D or 3D films, the Xiaomi VR headset will need the MI VR companion app, Indian Express reported.

The MI VR app is an accompanying app which is an open platform that gets most of its contents from media groups such as the Youku, Qiy, and CodeNast.

The Oculus Rift VR on the other hand, is geared to be used on PC games such as "Lucky's Tale" or "Eve: Valkyrie".

One of Xiaomi's advantage is the price. On the issue of price, the Xiaomi VR is way cheaper. The company already listed the Xiaomi VR headset on their website despite the fact that the gear is still in beta stage. It can be bought for $29.99. The Oculus Rift, on one hand, costs around $600 and would also need a PC that is capable of running the current games supported by the Oculus.

Xaomi VR's low price is a big factor that will drag a big portion of VR consumers.