Virtual Reality: The Next Big Thing in Tech?


Earlier this year, the Chinese government forecast that the country’s consumer virtual reality sector may triple in revenues to $860 million this year and then rise almost tenfold to an estimated $8.5 billion by 2020.

Tencent founder Pony Ma told an industry conference recently that the company is looking at VR’s impact on the future of its hugely successful mobile text and voice-messaging service WeChat. “VR could represent the next generation of information exchange,” he concluded. Baidu, meanwhile, has launched a VR community called Baidu VR+. It hopes to create a platform for developers to share ideas and content, and it wants its video streaming unit iQiyi to become the leading platform for Chinese language VR content, featuring interactive films, concerts and sports events.

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