BENGALURU (Nov 9): Meta Platforms has struck a deal with Tencent Holdings to sell a new, low-cost virtual-reality (VR) headset in China, as it tries to return to a market where Facebook and Instagram remain blocked, the Wall Street Journal (WSJ) reported on Thursday. The preliminary deal will make Tencent the exclusive seller of Meta's headsets in China, the journal said, citing sources, adding that the Chinese video game maker will start selling the headset beginning late 2024. The VR deal gives Meta a chance to return to the Chinese market and compete with TikTok-owner Bytedance, which makes the VR headset Pico. The company unveiled the next generation mixed reality headset Quest 3 earlier this year. For China, Meta plans to use lenses in the headset that are cheaper than those in the Quest 3, according to WSJ.

Source: Wall Street Journal November 10, 2023 18:53 UTC