Microsoft reveals prototype of holographic virtual reality glasses
http://gizmodo.com/project-hololens-hands-on-incredible-amazing-prototy-1680934585
Microsoft gave some journalists an exclusive sneak-preview. No cameras allowed.
I read the description in a way that the glasses let you see a superposition of the environment and virtual objects. The virtual objects are embedded into the view as if they are a natural part of the environment, e.g. a virtual window superimposed on an actual wall. It's also possible to cover your whole field of view with an artificial environment, except for some real objects which stay in place. the journalist was shown a demo, where the room was filled with a virtual landscape of Mars, with the exception of the desk, which stayed in place.
What is buried in the text:
"I sat down in a chair so they could sling a giant processor unit around my neck, and gently place the HoloLens prototype on my head."
Creating such a virtual reality obviously consumes lots of computing power, maybe too much for a purely handheld device.