Analysts have expected to be coming and I suspect social VR developers like High Fidelity and Sansar were given the inside word from Facebook, and now according to Bloomberg it seems to be on its way:
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. Like current Oculus products, the new headset will be geared toward immersive gaming, watching video and social networking, said the people who asked not to be named to discuss a private matter. Code-named “Pacific,” the device resembles a more compact version of the Rift and will be lighter than Samsung’s Gear VR headset, one of the people said.
The Gear is actually quite light so I'd be impressed if Facebook managed to pull that off. This seriously seems like a last bid for the mass market: Either Pacific sells millions of units its first year, or it'll be difficult to justify any forecast of VR gaining mass market adoption.
Pictured: Bedding Taylor Swift in the Oculus Rift, because you know there's definitely a market for doing that.