Experiencing a virtual reality (VR) world does not only have to happen on an expensive and extremely powerful PC — it can also happen just through a smartphone, all thanks to Samsung Gear VR.

Samsung, in collaboration with Facebook's Oculus VR, introduced the fresh version of the VR headset last Thursday at an Oculus developer event held in Los Angeles.

This is not a new innovation, not even from the Korean tech. In fact, Google Cardboard works the same way in which it is compatible with different smartphones.

In addition, it's also Samsung's third version of the VR headset, following the first two called "Innovator Editions."

What makes the new VR headset different from its predecessors is its price — the predecessors cost $199 while the new headset will be priced at $199 — and the fact that it can work with all new 2015 phones from Samsung, as opposed to Innovator Editions' select smartphones.

According to various reports, the new VR headset is 22 percent lighter compared to the two previous versions. Because of reduced weight of the device, it is also described to be more comfortable to wear.

It is equipped with a redesigned touchpad and motion sensors for gyroscopic features and for acceleration, but a smartphone, which is to be attached inside the headset through a microUSB port, is still required for the device to work.

Samsung Gear VR allows the user to taste the experience of being in a virtual world. They can download apps and browse while wearing the headset.

The company also announced that the VR headset also allows for Netflix streaming and Twitch game streaming.

The new Samsung Gear VR headset will become available in retail stores in November and will sell for $99. It works well with Samsung's Note 5, S6, S6 Edge, and S6 Edge Plus.

The retail version of the Gear VR will be released in November of this year, for $99. It's compatible with the Note 5, S6, S6 Edge, and S6 Edge Plus.