Is Nokia’s virtual reality product launching next week?

Nokia has sent out invites for an event that will supposedly see the company unveil a ‘virtual reality project’.

That’s according to a Re/code report that cites ‘sources familiar with the company’s plans’.

The effort…represents the most significant consumer hardware launch from Nokia since it sold its mobile phone business to Microsoft in 2013,” reads the article.

The event is scheduled to be held on July 28 in Los Angeles and is being peddled as ‘VIP’ only.

Unfortunately, the invitation itself makes no specific mention of virtual reality. There is, however, an ambiguous background image that looks a little bit like a pair of lenses.

Nokia was reported to be planning an entry to the virtual reality arena back in April, although no exact details were revealed at the time.

Related: Oculus Rift vs HTC Vive

This would be company’s first real foray into hardware since Nokia’s smartphone division was bought up by Microsoft last year – discounting the Nokia N1 tablet, of course.

Nokia currently isn’t allowed to re-enter the smartphone business until the end of 2016, so VR could be a welcome money-spinner for the firm.

Unfortunately, virtual reality is quickly becoming a saturated sector, with big names like Sony, HTC, Valve, Samsung, and Facebook all portioning off a slice of VR pie.

Stay tuned for July 28 when we’ll update you with the latest from Nokia.

In the meantime, check out the ‘Samsung Gear VR – Is this the future?’ video below: