Oculus Connect was last week, including a lengthy keynote on Thursday that featured Tim Sweeney, John Carmack, Michael Abrash, and others (even Mark Zuckerberg made an appearance). Within the first dozen minutes, they brought Peter Koo, Senior Vice President of Samsung Mobile, to the stage, who announced the new Samsung Gear VR. Its main advantage is that is supports more of their flagship phones than their previous model did, and, more interesting, for half the price of the previous version.
The Gear VR is the first consumer version as they consider the previous one to be a developer kit — err — "Innovator Edition". It will support the Samsung Galaxy S6, S6 edge, S6 edge+, and the Galaxy Note 5. The device is lighter and “much more comfortable to wear” than its predecessor. It will cost $99, plus the cost of one of the aforementioned phones unless you were getting one for a different reason, and it will be available in November.