Chinese smartphone manufacturer OnePlus will release its OnePlus Two smartphone at 10 p.m. ET on July 27, and everyone has heard that the company plans to do something during its planned Virtual Reality event.

The company will be offering OnePlus Cardboard VR headsets for free. This will be a first for OnePlus and could possibly become an eventual yardstick for future product unveilings, something that, the company brags, will practically place them alongside the team and the actual and next flagship killer.

The VR headsets do carry modifications that are not found in the original Google Cardboard VR headsets. For one, it will be 20% smaller. It will also be made of thicker material, and it will feature dirt- and oil-resistant coating. Also, officials say the VR headsets will be more accessible, among other improvements.

A number of companies tried to clone the Google Cardboard VR headset and offered them for about $20 to $30 each. OnePlus is offering its modified version for free and presumably, in preparation for its OnePlus Two launch. Though the headsets are free, those who want one will have to pay $5 to cover shipping costs.

"This is not a product. It's an initiative. We aren't making any money by offering OnePlus Cardboard. In fact, we are losing money with each one," a OnePlus official said of the Cardboard VR headsets.

With word about the OnePlus Cardboard VR headset being free, the latest news update from PC Magazine bares that OnePlus Cardboard VR headsets are now out of stock.

But all is not lost for people planning to take part in the OnePlus Two launching. The company offers two alternatives: a do-it-yourself version or the purchase of other headsets. That post can be found here.

Founded on December 16, 2013, OnePlus has its headquarters in Shenzen, Guangdong Province.