LG and Valve are working on a new, high-fidelity VR headset.

LG has reportedly announced in a press release that it partnered with video game developer Valve to create a new head-mounted virtual reality device that uses Valve's royalty-free SteamVR 3D tracking technology. Keep in mind HTC already teamed up with Valve to create the HTC Vive. Also, LG has experimented with VR in the past - like when it launched the 360 VR headset for LG G5 flagship.

LG isn't being too specific about the project or its current prototype, but it said the headset is "designed to deliver a high fidelity, next generation VR experience", according to RoadToVr.com. And, like we said, it will be based around the SteamVR system, which was opened to developers and manufacturers last year. We can also expect LG to show off the headset at Valve's GDC 2017 booth this week.

Price and availability for LG's VR headset will be announced at a later date. We've contacted LG and Valve for a comment.