Tech rivals Apple and Samsung are each working on cordless headsets for both augmented reality and virtual reality, according to recent reports.

CNET, citing a source familiar with Apple's plans, reported that the California tech giant codenamed its project "T288." The untethered headset would provide an advanced 8K display for each eye and be connected to a box using 60 GHz WiGig short-range wireless technology.

A second generation of that technology, 802.11ay, would offer faster speeds and more range but won't be available until next year.

The box, which resembles a PC tower, would also utilize Apple processors that are more powerful than any of its current offerings.

Apple reportedly hopes to release the system in 2020, but CNET noted the company could still change its plans. CEO Tim Cook has long embraced AR, but the report said T288 represents a major investment in VR as well.

Meanwhile, a report this week from Samsung's native South Korea indicated the world's top smartphone maker would showcase a new "mixed reality" headset as soon as the IFA technology fair in Germany in August.

The Korea Times reported that Samsung expanded its strategic partnership with Microsoft to work on the pricey system.

Samsung officials involved in the project told the paper the headset would use in-house processors, sensors and OLED displays, while Microsoft would be responsible for its Windows Mixed Reality and Windows Mixed Reality Ultra platforms, as well as developing related apps.

Despite rapid advances in the technology, VR has yet to take off in the broader consumer market, but both tech giants are likely anxious to develop groundbreaking new gadgets as the market for smartphones matures.

"Because the market is extremely new, Samsung Electronics can understand how the markets go by partnering with Microsoft," one Samsung official told The Korea Times.