This is HTC's virtual reality headset - the Vive

HTC just announced that it's working on a virtual reality headset with gaming company Valve.

The headset, called the Vive, has more than 70 sensors inside. The company says you will be able to walk around your room and feel as if you're immersed in whatever world you're looking at through the headset. The company will also make a game controller for the Vive.

HTC says its partners include HBO, film studio Lionsgate, and Google among others. The company has announced a solid release date just yet, but says it will launch before the year is over. The developer version, which is what HTC showed on stage, will be released in the spring.

HTC is pushing this as a device ideal for several use cases, including gaming and virtual travel. According to the company, the headset will make you feel like you're walking down a street in San Francisco or floating in outer space.

If the headset works as well as HTC says it does, it sounds like it could be a worthwhile competitor to Oculus. We'll have to wait until the company starts showing demos to know for sure.