Virtual reality, the next big thing for future-minded tech firms

Technology companies are betting on clunky goggles or headsets, which symbolize the virtual reality or VR technology, to be the next big thing, as influential as the smartphones. And they may well be riding the right horse.

VR will likely gain impetus this year. Many top-tier vendors are expected to launch their first-generation products.

On Christmas Eve, LeTV Holdings Co Ltd released its first VR device Cool 1, a 149 yuan ($22) headset that requires a smartphone to be attached in front. It creates a three-dimensional or 3-D digital world through a pair of lenses.