A short while ago, Samsung revealed that they're working on a virtual reality headset. In a report from SamMobile, it was revealed that Samsung is receiving some help from Oculus VR. Specifically, Oculus is helping out with the software side of things.
The hardware of the device is being developed by Samsung alone, but the software is being developed in cooperation with Oculus VR, makers of the Oculus Rift VR headset for gaming.

Gear VR will allow users to slot a Galaxy device into a cradle that will then attach to your head. Instead of having dedicated hardware in the headset itself, Gear VR will make use of the accelerometer, gyroscope, and power of the Galaxy device to do head tracking and motion. Oculus and other VR devices, use dedicated hardware for their virtual reality solutions.