Samsung Shakes Up Virtual Reality With This New Camera

For Samsung (SSNLF), the future is all about virtual reality and mobile. This week, the electronics giant unveiled a new virtual reality camera called Gear 360, along with two new smartphones: the Galaxy S7 and the Galaxy S7 Edge. Gear 360 makes it possible to shoot 360-degree photos and videos. It's meant to work with Samsung's Gear VR headset, which was released last year and is powered by Oculus, the virtual reality software company owned by Facebook. Samsung also announced two new smartphones, which are water proof. Other updates include a camera that can focus pictures at a faster speed and a micro SD card reader, in case you run out of memory. The new phones go on sale on March 11. Samsung executives said they wanted to create a device with a bigger screen, but without that big screen feel. Gear 360 is expected to be released in second quarter. TheStreet’s Scott Gamm has details from Samsung’s offices in New York City’s Meatpacking District.