(Bloomberg) -- Facebook Inc. is taking another stab at turning its Oculus Rift virtual reality headset into a mass-market phenomenon. Later this year, the company plans to unveil a cheaper, wireless device that the company is betting will popularize VR the way Apple did the smartphone.

Currently VR hardware comes in two flavors: cheap headsets that turn smartphones into virtual reality players (like Samsung’s $130 Gear VR) and high-end gaming rigs (like Facebook’s $400 Oculus Rift) that hook up to $1,000-plus desktop computers. Facebook’s new headset is designed to bridge the gap -- a device that will sell for as little as $200 and need not be tethered to a PC or phone, according to people familiar with its development. It will ship next year and represent an entirely new category.

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