Meta may soon release a budget-friendly version of the Meta Quest 3, potentially called the Meta Quest 3 Lite or Quest 3s (with an apparently intentional lowercase s). This is according to leaks from @Lunayian on Twitter that suggest this new VR headset will offer many of the Quest 3's features at a lower price.

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Supposedly, this new, lighter Quest will be a blend of the Quest 3’s specs and Quest 2’s more economical design, meant to replace the almost 4-year-old device. The company has been tight-lipped about any news regarding this since the initial release of the Meta Quest 3 back in October, we can expect to hear more at the tech giant's Meta Quest Gaming Showcase on June 1.

Here's everything we know so far:

Rumors say the Quest Lite is meant to be a more powerful Quest 2, so you can expect a lower price than the flagship Quest 3. Although it's unclear how much it'll be discounted, TechRadar speculates that it will likely be priced between $299 and $399 — positioned between the Quest 2’s original launch price and the Quest 3’s current price of $499.

Though no official release date has been announced, industry insiders speculate the Meta Quest 3 Lite could be revealed at Meta’s June gaming showcase. Given the timing of recent leaks, an announcement and subsequent release in the coming months seem plausible.

The Quest 3 Lite will reportedly feature the Qualcomm Snapdragon XR2 Gen 2 chipset, similar to the Quest 3. However, it will have a lower screen resolution of 1,832 x 1,920 pixels per eye compared to the Quest 3’s 2,064 x 2,208 pixels.

Other downgrades include a fresnel lens system — meaning the possibility of visible concentric rings during use — instead of pancake lenses, and simplified eye distance adjustments with just three set positions. Despite these compromises, the new headset will retain the advanced tracking ring-less controllers and two 4MP RGB passthrough cameras for full-color mixed reality.