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Business · TMT
Tencent's Pony Ma says to develop Virtual Reality WeChat
2018/11/08 08:29:20
China's News, China's Financial News, Tencent

Nov 08, 2018 (China Knowledge) - Pony Ma, Tencent's CEO, during 5th World Internet Conference held in Wuzhen Summit, has said that because mobile networks’ speed has improved greatly, he was considering the development of Virtual Reality (VR) WeChat.

His team has communicated with the China Telecom, told Ma, to know whether the download speed of 5G can reach 1.7G/s, if that be the case VR equipment will soon become popular. Hence, making VR WeChat the focus of the WeChat team.

China's VR market is growing at an impressive pace, according to data from iResearch. In 2017, the scale of the VR market was about RMB 3.46 billion. By 2021, its overall industry size is projected to reach RMB 79.02 billion, and China will become the world's largest VR market.

Currently, perhaps because existing VR products in the market have failed to meet users' expectations of immersive experience, and the product price is higher, the VR market is depressed under the double attack of technical bottleneck and consumption gap.

In addition, many entrepreneurs in the VR industry have welcomed Tencent's entry after learning that the VR WeChat is on the agenda. Pony's VR WeChat gives the VR market a signal of recovery.

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