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ByteDance, the father or mother firm of short-form video platform TikTok, has up to now bought 46,000 of its digital actuality headset Pico on-line in China because it seeks to raised compete with Fb father or mother Meta.
The determine was reported by the South China Morning Put up on Sunday (October 23), which cited knowledge from market intelligence agency Sandalwood Advisors.
ByteDance reportedly bought that variety of units through on-line orders from the launch date of the Pico 4 standalone VR on September 27 till October 14.
Of the general gross sales, 65% had been made through e-commerce website JD.com, whereas 17% had been made via Alibaba Group’s Tmall market and one other 17% had been bought through TikTok’s Chinese language counterpart Douyin.
The launch came to visit a yr after ByteDance acquired Chinese language VR headset maker Pico for an undisclosed quantity because it pushed to diversify its enterprise.
In a press release to media retailers on the time, ByteDance mentioned Pico’s “complete suite of software program and {hardware} applied sciences, in addition to the expertise and deep experience of the group, will help each our entry to the VR area and long-term funding on this rising discipline”.
Within the first quarter of 2021, Pico was the third-largest VR headset producer globally, in response to knowledge from market analysis agency Worldwide Information Corp. or IDC.
IDC in March mentioned a brand new spherical of competitors within the VR market will begin in China pushed by the idea of the metaverse.
“Amongst them, Pico Neo3, Qiyu VR collection, and Nolo Sonic are the fashions with a bigger share of on-line e-commerce platforms in 2021,” IDC mentioned. Qiyu VR is developed by Chinese language on-line video platform iQIYI, usually in comparison with Netflix, whereas the Nolo Sonic is by Chinese language tech firm NOLO VR.
“The attractiveness of content material continues to extend, and {hardware} producers improve funding in content material ecological development,” IDC mentioned earlier this yr.
The brand new Pico headsets are priced at 2,499 yuan (USD $345) for the 128-gigabyte variant and a pair of,799 yuan for the 256GB variant, the SCMP mentioned.
That worth vary makes Pico headsets extra inexpensive for patrons versus the high-end Quest Professional headset that Meta Platforms launched simply weeks after the debut of the Pico 4. Meta’s Quest Professional is priced from $1,499.99.
Meta, Fb’s father or mother firm, acquired VR developer Oculus in 2014 and now holds 90% of the VR market, with Pico trailing far behind with solely a 4.5% share, the IDC mentioned in a June report.
“Meta’s dominance within the VR market can be challenged within the coming years,” says the IDC.
“Current enlargement into many European nations in addition to a rising library of consumer-friendly content material ought to assist the corporate appeal to a bigger viewers within the coming quarters,” the IDC mentioned.
Nonetheless, the agency famous that Pico, which largely operated inside China’s borders, “has maintained a presence in lots of international markets although this has primarily occurred within the business phase”.
“Current enlargement into many European nations in addition to a rising library of consumer-friendly content material ought to assist the corporate appeal to a bigger viewers within the coming quarters.”
Worldwide Information Corp.
“Current enlargement into many European nations in addition to a rising library of consumer-friendly content material ought to assist the corporate appeal to a bigger viewers within the coming quarters,” the IDC mentioned.
Nonetheless, the 46,000 VR headsets bought in lower than a month fell wanting Pico’s goal after its founder and president Henry Zhou reportedly mentioned in an interview with Chinese language media in September that the Pico 4 is predicted to promote greater than 1 million items.
ByteDance’s entry into {hardware} manufacturing just isn’t restricted to VR headsets. In July, the corporate unveiled plans to design its personal semiconductors and in 2019, it disclosed plans to design instructional devices and revealed its first smartphone below the Smartisan model.Music Enterprise Worldwide
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