Last Update: February 21, 2023, 18:26 IST
Meta has so far avoided launching its VR headset in China
Tencent Holdings is in talks with Meta Platforms Inc to distribute its Meta Quest line of virtual reality headsets in China, three people familiar with the matter said.
Hong Kong: Tencent Holdings is in talks with Meta Platforms Inc to distribute its Meta Quest line of virtual reality headsets in China, three people familiar with the matter said.
Talks between Tencent and Meta began last year and have continued in recent months, according to one of the sources with direct knowledge of the matter, adding that talks are at an early stage and details have yet to be agreed upon. remains.
Tencent and Meta did not immediately respond to requests for comment on Tuesday. The people declined to be identified because the talks were not public.
Chinese media outlet 36Kr and the Wall Street Journal reported the discussions earlier.
Tencent, the world’s biggest video game publisher, had an ambitious plan to build both virtual reality software and hardware in an “extended reality” XR unit launched in June last year amid global interest in the metaverse concept of virtual worlds.
But Reuters reported last week that it has decided against developing its own XR hardware because of profitability issues, and has told most employees in the unit to find opportunities elsewhere.
Tencent said at the time it was making adjustments to some business teams because development plans for the hardware had changed.
One of its main rivals in China’s virtual reality space is TikTok owner ByteDance, which owns headset maker Pico.
Tencent is mostly known for software which includes games and a suite of social media applications. It sells the Nintendo Switch console in China through a partnership with the Japanese gaming firm it founded four years ago.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)