Both Mashable and the Financial Times have reported that google will release a virtual reality headset sometime this year. They will also release android virtual reality software at the same time. They certainly will have a boost from the mass distribution of the Google VR Cardboard.
This will definitely he got the competition for Samsung Gear VR and the Homido VR Headset. Like the Homido VR Headset, the Google VR Headset would have a wider range of non-Samsung android smartphones available to it. It may also allow for using an iPhone.
There’s been no exact date set but it would seem likely that the product would be announced at this year’s google I/O conference which starts May 18.