Report: Google's VR Headset Doesn't Rely On A Smartphone

Hi-tech companies are scrambling to develop next generation virtual reality technologies but a new report suggests that Alphabet Inc (NASDAQ: GOOG)'s Google may have the lead - at least for now.

According to The Wall Street Journal, Google is developing a virtual reality headset that doesn't rely on any sort of computing device such as a smartphone or game console. The report added that this would represent "a first in the rapidly evolving field."

WSJ added that Google's virtual reality headset will consist of a screen, high-powered processors and outward facing cameras. By comparison, Facebook Inc (NASDAQ: FB)'s Oculus Rift requires the computing power of a connected PC and also makes use of external cameras to track a user's movements.

The publication also noted that Google's progress is still in an early stage of development and may not even be released at all.

Shares of Google were trading higher by around 1 percent at $690.00 early Friday morning.