Google is creating a new, revamped virtual reality headset as the company continues its efforts in the increasingly competitive virtual reality market, according to a new report in the Financial Times.

The new VR headset will be an upgrade to the current Cardboard VR headset (pictured above) that Google launched in 2014, which is essentially a cardboard box that houses a user's smartphone to become a makeshift virtual reality viewer.

But Google's new headset will be made out of plastic instead of cardboard, and will include built-in motion sensors to provide a more advanced and immersive experience, according to the report, which cites anonymous sources familiar with the plans.

The new VR headset is set to be released later this year.

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