Oculus Rift will cost a whopping “$1,500 all-in”

Which isn’t a complete disaster, when you think about it

Oculus Rift CEO Brendan Iribe has revealed the VR headset could cost a pricey $1,500 (£977). But before you freak out, it's not as bad as it seems.

The price quoted by Iribe is all inclusiveand takes into account the cost of a powerful PC needed to run graphic-intensive games on the platform.

Read more: Oculus Quest review: forget PlayStation VR – this is the new standard

Earlier in the year the company released a set of specifications required for a Windows machine to give you a smooth VR experience:

- AMD 290 equivalent or greater
- Intel i5-4590 equivalent or greater
- 8GB+ RAM
- Compatible HDMI 1.3 video output
- 2x USB 3.0 ports
- Windows 7 SP1 or newer+

TechRadar estimated the final cost of this to reach around $1,030 (£654). That means the price of the headset alone would be around $500 (£326), which isn't too bad at all.

So if you're already the proud owner of a powerful rig, then the cost of Rift will be significantly lower.

With uncertainty surrounding the Rift's release date, we're all eagerly awaiting more details surrounding the device's launch which are expected to appear at E3.

Details surrounding Oculus's rivals are also thin on the ground, with the HTC Vive and Sony's Project Morpheus also expected by the end of 2015, or in 2016, and no concrete details surrounding pricing.

This high price could be seen as a setback for Oculus Rift, with many people unwilling to purchase an expensive PC rig to run the device. Instead, Sony look set for success with their VR device, which will work with the Playstation 4 in millionsof peoples living rooms.