TikTok’s mum or dad firm acquires VR headset maker Pico


TikTok mum or dad firm ByteDance is buying Chinese language digital actuality headset maker Pico. CNBC confirmed the news as we speak after it was rumored final week and verified by Chinese language publication Nweon. ByteDance advised CNBC in an announcement that Pico’s “complete suite of software program and {hardware} applied sciences, in addition to the expertise and deep experience of the group, will assist each our entry to the VR area and long-term funding on this rising discipline,” saying it was “optimistic about the way forward for VR and its alignment with our mission.”

Pico is thought for its Neo lineup of standalone digital actuality headsets, most just lately the Pico Neo 3. It caters to both consumer and professional clients, and a June IDC report estimates that Pico is the third largest maker of VR headsets, following Fb subsidiary Oculus and Chinese language firm DPVR. Whereas the consumer-focused Neo three launched completely in Asia, Pico is slowly increasing its market, with the business-ready Neo 3 Pro and Neo 3 Pro Eye set for a North American and European launch as nicely.

ByteDance is thought primarily as a social app firm, because of international juggernaut TikTok and China-based Douyin. As CNBC notes, nevertheless, it additionally acquired the most important mobile games studio Moonton in March. It’s received expertise releasing {hardware} as nicely, having launched a China-exclusive mobile phone referred to as the Jianguo Professional three in 2019.

The Pico acquisition appears unlikely to combine with ByteDance’s TikTok service within the close to future. It’s additionally not clear how the acquisition may have an effect on Pico’s rollout plans. The corporate has to this point averted direct competitors with Oculus — which dominates the worldwide VR market however doesn’t function inside China. However with Fb intensifying its push into VR, Apple reportedly making ready to enter the market, and Sony making ready a follow-up to its PlayStation VR headset, ByteDance is signaling that it’s additionally within the area.



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