TikTok parent sells 46,000 Pico VR headsets in China in race to beat Meta - Music Business Worldwide

ByteDance, the genitor institution of short-form video level TikTok, has truthful acold sold 46,000 of its virtual world headset Pico online successful China arsenic it seeks to amended vie with Facebook genitor Meta.

The fig was reported by the South China Morning Post connected Sunday (October 23), which cited information from marketplace quality steadfast Sandalwood Advisors.

ByteDance reportedly sold that fig of devices via online orders from the motorboat day of the Pico 4 standalone VR connected September 27 until October 14.

Of the wide sales, 65% were made via e-commerce tract JD.com, portion 17% were made done Alibaba Group’s Tmall marketplace and different 17% were sold via TikTok’s Chinese counterpart Douyin.

The motorboat came implicit a twelvemonth aft ByteDance acquired Chinese VR headset shaper Pico for an undisclosed magnitude arsenic it pushed to diversify its business.

In a connection to media outlets astatine the time, ByteDance said Pico’s “comprehensive suite of bundle and hardware technologies, arsenic good arsenic the endowment and heavy expertise of the team, volition enactment some our introduction to the VR abstraction and semipermanent concern successful this emerging field”.

In the archetypal 4th of 2021, Pico was the third-largest VR headset shaper globally, according to information from marketplace probe steadfast International Data Corp. oregon IDC.

IDC successful March said a caller circular of contention successful the VR marketplace volition commencement successful China driven by the conception of the metaverse.

“Among them, Pico Neo3, Qiyu VR series, and Nolo Sonic are the models with a larger stock of online e-commerce platforms successful 2021,” IDC said. Qiyu VR is developed by Chinese online video level iQIYI, often compared to Netflix, portion the Nolo Sonic is by Chinese tech institution NOLO VR.

“The attractiveness of contented continues to increase, and hardware manufacturers summation concern successful contented ecological construction,” IDC said earlier this year.

The caller Pico headsets are priced astatine 2,499 yuan (USD $345) for the 128-gigabyte variant and 2,799 yuan for the 256GB variant, the SCMP said.

That terms scope makes Pico headsets much affordable for customers versus the high-end Quest Pro headset that Meta Platforms launched conscionable weeks aft the debut of the Pico 4. Meta’s Quest Pro is priced from $1,499.99.

Meta, Facebook’s genitor company, acquired VR developer Oculus successful 2014 and present holds 90% of the VR market, with Pico trailing acold down with lone a 4.5% share, the IDC said successful a June report.

“Meta’s dominance successful the VR marketplace volition beryllium challenged successful the coming years,” says the IDC.

“Recent enlargement into galore European countries arsenic good arsenic a increasing room of consumer-friendly contented should assistance the institution pull a larger assemblage successful the coming quarters,” the IDC said.

However, the steadfast noted that Pico, which mostly operated wrong China’s borders, “has maintained a beingness successful galore planetary markets though this has chiefly occurred successful the commercialized segment”.

“Recent enlargement into galore European countries arsenic good arsenic a increasing room of consumer-friendly contented should assistance the institution pull a larger assemblage successful the coming quarters.”

International Data Corp.

“Recent enlargement into galore European countries arsenic good arsenic a increasing room of consumer-friendly contented should assistance the institution pull a larger assemblage successful the coming quarters,” the IDC said.

Still, the 46,000 VR headsets sold successful little than a period fell abbreviated of Pico’s people aft its laminitis and president Henry Zhou reportedly said successful an interrogation with Chinese media successful September that the Pico 4 is expected to merchantability much than 1 cardinal units.

ByteDance’s introduction into hardware accumulation is not constricted to VR headsets. In July, the institution unveiled plans to design its ain semiconductors and successful 2019, it disclosed plans to plan educational gadgets and revealed its first smartphone nether the Smartisan brand.Music Business Worldwide