Tech Transformers

Facebook’s Oculus cuts price again on virtual reality headset

Key Points
  • Oculus cuts price of VR headset to $399
  • Originally priced at $599
  • Facebook-owned product said to be lagging sales of HTC, Sony
Facebook co-founder and chief executive, Mark Zuckerberg, speaks at an Oculus developers conference while wearing a virtual reality headset in San Jose, California
Glen Chapman | AFP | Getty Images

It's a virtual bargain!

VR gaming specialist Oculus announced plans on Monday to cut the price of its Rift headset to $399 — two-thirds of the price the company was charging less than five months ago.

In a blog post, the company said the new price for its immersive headset will be available for a "limited time" as part of a summer sale.

In January, Oculus co-founder Palmer Luckey said that even at the initial $599 price tag, the Rift headset didn't offer Oculus a profit.

It is the second price drop by Oculus this year: The package was trimmed to $499 on March 1.

Facebook paid $2 billion for Oculus in 2014, and although sales figures have not been released, many analysts believe the headset is lagging behind similar offerings from HTC and Sony.

Facebook CEO Mark Zuckerberg said at the time that VR headsets would "become a part of daily life for billions of people."

However in February, Zuckerberg admitted that the company's virtual reality effort is "not going to be profitable for quite a while."

The $399 price tag for the Rift now matches the PlayStation VR headset made by Sony. The Vive set, developed by HTC Corp, retails at $799.

Correction: This story was revised to correct the status of Palmer Luckey, who left Facebook in March.