(Yicai Global) Oct. 11 -- Protruly Vision Technology Group Co. [SHA:600074] has won a CNY540-million (USD81.9-million) contract from China United Network Communications Ltd. [SHA:600050], one of the country's big three mobile operators and better known as China Unicom, to supply virtual reality smartphones over the next 12 months, the company said in a press briefing yesterday.
The parties did not confirm the specific number of phones to be supplied under the agreement.
Companies engaged in China's smartphone sector aim to stimulate demand among existing users for product upgrades through the acceleration of the development of mobile phone applications related to virtual reality, artificial intelligence and other new technologies.
This cooperation arrangement will extend Protruly's VR phone market coverage, and effectively increase its market share, the company said.
Protruly launched the world's first VR mobile phone in October last year, followed by a second-generation handset in August this year. The new model supports 360-degree panoramic shooting in a variety of perspectives and is priced at CNY4,999 (USD760).