Most fans know that in the VR industry, at least three names – Oculus, PSVR, and Vive – will dominate the scene. However, it seems that Google wants in on the action, too, and it plans to release a budget-friendly but above-average Android VR headset.

The Next Web says that the reveal may occur during the Google I/O event scheduled for next week, if the series of tweets from industry follower Peter Rojas is to be believed. Reportedly, the new Android VR will be less powerful than the HTC Vive or the Oculus Rift, but will be more so than another Android VR headset, the Gear VR from Samsung. In addition, the upcoming Android VR will also work with a variety of devices, since it will be released as a stand-alone headset. This is unlike the Gear VR, which serves as an accessory to Samsung's Android-run flagships.

According to TechCrunch, the price tag for the new Google VR headset will be one of the main selling points of the device. While it will not be as powerful as the other top-tier headsets, this also means that Google will have a chance to corner a significant portion of the VR market, if the new VR headset will be marketed successfully.

While the Oculus Rift and HTC Vive offer top-tier performance and immersive VR content, their specs also give a disadvantage as they are also priced accordingly. In addition, the top-tier specs also require top-tier PC or other systems in order to work. As for the Gear VR, while the Samsung headset only costs $99, it needs Samsung flagships like the Galaxy Note series or a Galaxy S series device.

Meanwhile, although Google has yet to confirm its appearance, an Android VR placeholder is already up on the Google Play Developer Console website, reports Android Police.