Tencent Holdings and Meta Platforms are currently engaged in discussions regarding the distribution of Meta Quest virtual reality headsets in China, according to three individuals familiar with the matter. These talks between Tencent and Meta began last year and have continued in recent months. However, it should be noted that the negotiations are in the early stages, and specific details have not been finalized. Both Tencent and Meta have yet to respond to requests for comment, and the individuals providing this information have chosen to remain anonymous due to the private nature of the discussions.
Earlier reports from Chinese media outlet 36Kr and the Wall Street Journal highlighted these ongoing discussions between Tencent and Meta. As the world’s largest video game publisher, Tencent had initially aimed to develop virtual reality software and hardware through its extended reality (XR) unit, which was established in June of last year in response to growing global interest in the concept of a virtual world known as the metaverse. However, Reuters recently reported that Tencent has decided to discontinue the development of its own XR hardware due to profitability challenges, resulting in the reassessment of its business teams and the redirection of employees to other opportunities.
Tencent’s main competitor in the Chinese virtual reality industry is ByteDance, the company behind TikTok, which also owns Pico, a headset manufacturer. Despite Tencent’s focus on software, including games and social media applications, it has previously collaborated with Japanese gaming firm Nintendo to sell the Nintendo Switch console in China.
Please note that the information provided above is a result of human writing and may contain affiliate links generated automatically. For further details, you can refer to our ethics statement.
Denial of responsibility! TechCodex is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
Eugen Boglaru is an AI aficionado covering the fascinating and rapidly advancing field of Artificial Intelligence. From machine learning breakthroughs to ethical considerations, Eugen provides readers with a deep dive into the world of AI, demystifying complex concepts and exploring the transformative impact of intelligent technologies.
