Virtual Reality Still Requires Investment but Companies Can Expect a Return, GM of Xiaomi VR Says

Yicai

2016-12-05

(Yicai Global) Dec. 5 -- In the nascent virtual reality industry, it is still early days for Xiaomi VR, however they expect to see financial returns in the next three to five years, Tang Mu, the company’s general manager said in an interview with National Business Daily.

At an international summit held in Chengdu on virtual reality, augmented reality and mixed reality, Tang also expressed concerns about inferior VR products currently flooding the market.

The entire VR market is still unclear, however Xiaomi will continue to offer adequate investment into the industry. If one product can achieve a sales volume totaling tens of millions, the business will be something. Xiaomi, he said, can make use of this opportunity.

Xiaomi currently focuses mainly on mobile VR for the time being, however the company is engaged in research and development into all-in-one VR experiences.

“VR is both an experience and a wearable product, which emphasizes convenience and comfort” Tang said. Problems facing the industry include people only being prepared to spend a small amount on a wearable product and at present VR headsets are too complex.

Buying VR content is not feasible yet, as he himself is unwilling to pay for content. Xiaomi instead has uniform ideas about smart hardware and will stick to getting a head start by focusing on hardware.