Xiaomi announces the Mi VR, its second low-cost virtual reality headset

Lost in all of the hype surrounding the reveal of the stunningly beautiful Mi Mix, Xiaomi also took the wraps off its newest virtual reality headset, the Mi VR. The new headset, which is designed to work with the latest generation of Xiaomi smartphones including the Mi 5 and Mi Note 2, will only cost you $29, keeping with Xiaomi's goal of offering solid hardware at lower prices.

The new Mi VR looks far better than Xiaomi's first VR attempt at building a virtual reality headset, the Mi VR Play — and very similar to the Playstation VR. Xiaomi says the new hardware comes with a new built-in motion sensor that will keep latency low at 16ms, and also features a 9-axis motion controller and supports touch controls.

The company also launched the MIUI VR store to try and keep users engaged with the VR system, offering over 30 VR apps and over 500 panoramic videos at launch. Since Xiaomi hasn't released its phones in the US yet, the Mi VR probably won't make it to the States, but if and when the company does it will have a full suite of products to offer potential consumers.