Oculus Rift Receives Significant Price Drop, Hopes to Spur Demand

During the past year virtual reality has proven itself to be exactly as advertised, opening up all new game and entertainment experiences that were previously impossible to deliver to the mass market. However, value has remained a problem.

Oculus VR has decided to take action against the value problem by introducing a significant price drop for the Oculus Rift. The Oculus Rift headset (HMD) has seen a $100 price reduction from $599 to $499, effective immediately. Meanwhile, the Oculus Touch controllers are now $99 instead of $199. When purchased together this equates to a $200 difference.

With this price reduction the Oculus Rift is now closer to PlayStation VR territory ($399), which is currently sales leader in the market with just under one million units sold worldwide. Although both are intended for different hardware platforms, they have competed for the attention of gaming and technology enthusiasts.

The recent introduction of Oculus Touch has been a huge boon for the Oculus ecosystem, introducing all-new potential that has brought with it dozens of new games and a surge of demand for the headset. Though, this demand has tapered off to start 2017.

The question will be whether or not this price reduction will make the impact that Oculus VR is looking for. At a base price of $499 it’s still well out of the reach of most consumers, and its system requirements are as steep as ever.

Oculus VR confirmed this week that it will release at least one Oculus Story Studio title each month until the end of the year. This improvement to its library, in addition to the price drop, could be enough to build momentum through 2017.