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Standalone VR Goggles Expected To Boom In China
Jul 06, 2018

A domestic virtual reality (VR) hardware manufacturer launched a brand new standalone head mount display (HMD), further stimulating the segment market already in full swing.

On Tuesday, Baofeng Mojing, the VR arm of the Baofeng Technology Co Ltd, unveiled the "Matrix" -- VR goggles equipped with 3K resolution built-in display.

The company claimed the HMD device is the lightest gadget that hit the market among the same category of products.

Feng Xin, CEO of Baofeng, said at the product's launch ceremony that the device fulfills the three major pain points of the VR device for consumers, which are the demand for higher definition, lighter weight and decrease of feeling faint.

The device was priced at 2,499 yuan ($360), and the company said one hundred early-adaptors will be selected and will receive the products for hands-on trial, with purchasing at a discount price of 1,999 yuan.

No specific dates for the publicly shipment were announced during the event.

The industry witnessed an investment shrink when fierce homogeneous competition appeared in the market this year.

More companies are forced to curtail the R&D process or even went bankrupt due to suffocated fundraising.

Baofeng Mojing cut down 50 of its headcount and about 100 employees, who are specialized in content building, were shifted to new established VR subsidiaries.

"We're hoping to become a dominator in the market to promote the industry from winter to a vibrant spring," said Feng. "VR will become commercialized and major vendors in the market will be making profits by 2017 to 2018."

He elaborated that VR will be massively exploited and implemented in industries such as tourism, education, automobile, real estate and sports in the next two years and standalone HMDs will become one of the next bestsellers.

"Domestic vendors, such as Xiaomi and Huawei, as well as major domestic internet companies and global players, like Facebook, will all be eager to participate and aim to grab a piece of the market shares," Feng added.

Standalone VR Goggles Expected To Boom In China