OLED Microdisplay maker eMagin announced that it is developing a new VR head mounted display (HMD) that use the company's latest high resolution (2K by 2K) OLED microdisplays and patented optics. These two technologies will enable eMagin's HMD to be significantly smaller, lighter and higher in resolution than competing HMDs (such as the Oculus Rift one) that are based on cellphone-sized OLEDs.
eMagin seems to be very excited by the new HMD, which they currently term Immersive HMD, or IHMD (the company will conduct a contest to name the IHMD for the product launch) - saying that their non-traditional approach will achieve a "radically improved and unique form factor".
eMagin expects their first prototype to be completed by the end of 2014. It will offer a resolution of four megapixels per eye and a field of view of over 100 degrees. eMagin sees a wide range of applications for such an HMD, and the first product will target the high-end gaming market.
eMagin is mostly known as a microdisplay producer - but the IHMD won't be the company's first commercial HMD. In 2005 the company developed and marketed the Z800 3D Visor (which was not very successful). It used two SVGA (800x600) OLED microdisplays and provided an immersive view equivalent to a 105" screen at twelve feet.