{"id":74282,"date":"2023-02-17T18:32:00","date_gmt":"2023-02-17T16:32:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74282"},"modified":"2025-09-09T19:10:46","modified_gmt":"2025-09-09T16:10:46","slug":"reuters-reports-tencent-abandons-plans-for-vr-devices","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/reuters-reports-tencent-abandons-plans-for-vr-devices\/","title":{"rendered":"Reuters reports Tencent abandons plans for VR devices"},"content":{"rendered":"<p>Tencent halted development of <span data-descr=\"virtual reality\" class=\"old_tooltip\">VR<\/span>-headsets and related software, and also decided to streamline the staff of the metaverse-related division. <a href=\"https:\/\/www.reuters.com\/technology\/tencent-scraps-plans-vr-hardware-metaverse-bet-falters-sources-2023-02-17\/\">Reuters<\/a> reports, citing informed sources.<\/p>\n<p>To run the <span data-descr=\"extended reality\" class=\"old_tooltip\">XR<\/span> unit launched in June 2022, the tech giant hired nearly 300 staff.<\/p>\n<p>The company developed a concept for a handheld gaming controller. Difficulties in achieving rapid profitability and the need for large investments to produce a competitive product, among other factors, led to abandoning this strategy.<\/p>\n<p>The business unit also lacked promising games and non-game applications.<\/p>\n<p>According to an internal forecast, XR is not expected to be profitable until 2027.<\/p>\n<p>Earlier the company&#8217;s <span data-descr=\"chief technology officer\" class=\"old_tooltip\">CTO<\/span> and head of the metaverse division, Andrew Bosworth, acknowledged that it could take years<a href=\"https:\/\/forklog.com\/en\/news\/meta-half-of-reality-labs-operating-expenses-go-to-ar\"> before fully functional AR glasses from Meta appear<\/a>, despite billions in investment.<\/p>\n<p>China&#8217;s national plan to develop the virtual reality industry envisages delivering 25 million devices by 2026,<a href=\"https:\/\/forklog.com\/en\/news\/china-to-ship-25-million-vr-headsets-by-2026\"> worth more than $48 billion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tencent halted development of VR headsets and related software, and decided to streamline the staff of its metaverse-related division. Reuters reports, citing informed sources.<\/p>\n","protected":false},"author":1,"featured_media":74283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1353,1771,1366],"class_list":["post-74282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-metaverses","tag-tencent","tag-vr-ar"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=74282"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74282\/revisions"}],"predecessor-version":[{"id":74284,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74282\/revisions\/74284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/74283"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}