The best current VR headset, the Quest 2, is getting a price drop down to $299 on June 4. But its replacement, the Quest 3, is arriving in the fall.

Meta announced the news this morning alongside details of the company’s upcoming improved Quest 3 VR headset, which will start at $499 and have a smaller size, a faster processor, improved controllers, and added color cameras that can add better mixed reality experiences to VR games and apps.

The new $299 price is for the version with 128GB of storage, while the 256GB storage option is getting a price drop to $349.

All indications suggest the Quest 3 will be worth waiting for, but Meta also announced an interesting performance update coming to the Quest 2 and Quest Pro that will add up to a 26% CPU speed improvement and 19% GPU improvement to the Quest 2, and an 11% improvement to the Quest Pro. The Quest 2 already has a lot of great games and apps, all of which are expected to also run on the Quest 3.

It’s surprising that Meta would find a way to unlock more performance out of the Quest 2 this late in its life cycle, but Meta has had Quest 2 updates in the past that have improved a number of hardware and software features.