Benzinga | Feb 5, 2021 09:21AM EST

Apple's VR Device To Cost $3,000 And Feature Changeable Headbands: Report

Apple Inc's (NASDAQ:AAPL) virtual reality headset could cost nearly $3,000, Business Insider reported Thursday.

What Happened: The VR device could also be equipped with interchangeable headbands and have more than a dozen cameras onboard to track hand movements, according to the Information, reported Insider.

People familiar with the development of the headset told the Information that the headset has high quality 8K displays, Lidar technology, and is code-named N301.

See also: How To Buy Apple Stock

Why It Matters: The Tim Cook-led company plans to launch the VR device in 2022, Bloomberg reported last month.

The device could potentially compete against Facebook Inc's (NASDAQ:FB) Oculus and Sony Corporation's (NYSE:SNE) PlayStation VR.

Apple plans to use its most powerful processors in the VR headset, as per Bloomberg.

The iPhone maker recently introduced over the ear headphones dubbed AirPods Max, which cost $549.

Price Action: Apple shares closed nearly 2.6% on Thursday at $137.39 and fell 0.29% in the after-hours session.