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HTC bullish on VR outlook

By Zhu Shenshen | June 30, 2016, Thursday | Online Edition

HTC, the developer of virtual reality headset Vive, said today it expects surging sales of VR devices this summer in the domestic market.

The sales will be bolstered by more experience sites, low-cost of VR-ready devices and the support of VR developers, including a new US$10 billion fund.

HTC has established a US$10 billion VR fund with 30 companies including ventral capital firms, called the Virtual Reality Venture Capital Alliance, the company said during an interview of the Mobile World Congress Shanghai.

HTC plans to establish 10,000 experience sites in China by the end of 2016, covering Internet cafes and Karaoke outlets, ten-fold compared with the current level, according to Alvin Wang Graylin, president of VR at HTC China.

“China will become the global center of VR development in the long term,” said Graylin.

The top VR firms including HTC and Sony plan to release “a bunch of new VR games and assessors” in the upcoming ChinaJoy in Shanghai, which is the biggest game fair annually held, he added.

The VR-ready computers, which allows users to connect HTC Vive headset and provides full VR experiences, will become much cheaper soon, analysts said.

The VR-ready computer price will cost starting from 3,000 to 4,000 yuan within several months, compared with more than 10,000 yuan each now. Majority of new computers sold next year will be VR-ready, said Graylin,

With money-losing smartphone business, HTC has betted heavily on VR once.

The newly-formed VR investment association will see 30 VR investment companies all join forces to help fund startup companies that are working on not VR content. It’s a huge US$10 billion in "deployable capital" between the 30 investors.

 

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