Samsung's rumored virtual reality headset now has a name - Gear VR. Production on the project is seemingly going smooth with a launch scheduled for early September at IFA 2014 according to sources as reported by SamMobile.

Back in May, we learned that Oculus VR was helping Samsung build a virtual reality headset. It may seem like an odd relationship but the idea was a "you scratch my back and I'll scratch yours" type of arrangement.

Under those terms, Samsung would receive help with the VR aspect (software) of their device while the Facebook-owned Oculus VR would get early access to Samsung's next generation OLED screen technology for the Rift.

Unlike the Rift, however, Samsung's solution isn't a full-on virtual reality headset. Based on what we've heard so far, it'll will be similar in function to the Google Cardboard device first shown off at I/O. Google's solution allows users to construct a "headset" using a piece of cardboard.

Once built, users simply slide their smartphone into the front of the device to create a poor man's version of the Rift. By all accounts, Samsung's device could be a plastic version of Cardboard. It'd obviously be a bit more refined and comfortable to wear but the idea appears to be identical.

Regardless of how you slice it, we're in exciting times as it relates to virtual reality. Technology has finally matured enough to make home solutions a reality. As the saying goes, the sky really is the limit here.