Ben Gilbert of Engadget:
Rather than having its own screen, Samsung’s VR headset uses your phone directly. It plugs in using an existing port on your phone (think: micro-USB) and becomes the screen. The headset itself has built-in sensors — an accelerometer at the very least — so any motion-tracking functionality is offloaded from your phone’s processor.
This is the part that interests me most. I’ve used a friend’s Oculus Rift a number of times and the one thing that’s made the experience just shy of great is the quality of its display. The high resolution and density of a modern smartphone display would be totally killer in that headset.