According to the official Oculus blog, Oculus chief technology officer John Carmack and the Oculus mobile team have spent the last 12 months collaborating with Samsung on the mobile VR device which has been designed to work with the Samsung Galaxy Note 4 by using its GPU and CPU to power the device.
The Gear VR is powered by a new Oculus Mobile SDK, developed by the Oculus team, and uses a variation of the Oculus Tracker and firmware. This allows it to take advantage of ultra low-latency 3DOF tracking that has, according to the developer, resulted in achieving a sub-20 millisecond motion-to-photons latency that is almost the equivalent of the optimized experience on DK2.
In addition to the device itself, four new experiences will be available that have been built by Oculus and are currently in beta. The first is called Oculus Home, a simple interface that connects users to the Oculus store where they can download and launch VR content. Then there is Oculus Cinema, a virtual movie theater where 2D and 3D movies can be watched in a variety of theater environments. Finally there is the Oculus 360 Videos and Oculus 360 photos that will allow users to playback panoramic content.
The Samsung Gear VR Innovator Edition is expected to be available for developers and enthusiasts sometime in the fall but no retail price was provided. As for the Oculus Mobile SDK, it will be available to the public before the end of October.