VR - Virtual Reality
HMD - Head Mounted Display
Latency - Latency in VR refers to the time it takes for the computer to render an image and for that image to appear on the HMD. This needs to be as low as possible so when you turn your head quickly the image displayed will be at the same speed. If it's too slow then the image lags behind your movement and it can make you feel sick.
OLED - Organic Light-Emitting Diode. This refers to the display technology used for the screens.
IPD - Interpupillary distance (IPD) is the distance between the center of the pupils of the two eyes. IPD is critical for the design of binocular viewing systems, where both eyepupils need to be positioned within the exit pupils of the viewing system. If your IPD isn't set correctly it can create eye strain.
Frame Rate/FPS - Frames Per Second. The frequency at which frames in a television picture, film, or video sequence are displayed. For VR, the optimal frame rate recommend by Oculus and HTC is 90fps. As a comparison, film and TV run at 24fps.
"Immersion into virtual reality is a perception of being physically present in a non-physical world. The perception is created by surrounding the user of the VR system in images, sound or other stimuli that provide an engrossing total environment." - https://en.wikipedia.org/wiki/Immersion_(virtual_reality)
Image from: https://www.oculus.com/press-kit/identity/
Description: This HMD (Head mounted display) is a entry level product with better optics, comfort and all round experience than the Google Cardboard design. It is only designed for Samsung Galaxy phones but this means it will provide an optimal mobile VR experience with low latency and better head tracking.
Requirements: Samsung Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge+, Galaxy Note 5, Galaxy S7 or Galaxy S7 Edge
Manufacturer: Samsung (Powered by Oculus)
Positional Tracking: None
Controls: Buttons on the side of the Headset or you can use a third party Bluetooth controller.
Image from: https://www.htc.com/us/go/press-image-gallery/
Positional Tracking add a whole new layer of immersion to VR by tracking every movement of your headset. This means you can lean forward, walk around or even lay down on the floor and it will always track your position by using external cameras or sensors. Positional tracking is only currently available on the higher end headsets like the Oculus Rift, HTC Vive and Playstation VR.
Motion Controllers bring your hands into VR and can add a lot of 'presence' to your experience. It also adds natural interactions with the virtual environment without having to use a gamepad, mouse and keyboard etc.Currently the only HMDs to support motion controllers are the HTC Vive, Oculus Rift(Released end of 2016.) and Playstation VR.
Examples of Motion Controllers:
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