Executives from 25 tech companies gathered in Shanghai to celebrate the start of trading of China’s new stock board, which launched Monday morning. After a day of trading, it’s clear
A few years ago
(VR) was supposed to be the next big thing and every big tech company took a shot at it. It won’t be too harsh to say that
didn’t actually take off on the scale it was expected to and a lot of companies have gone cold on it. One such company to do so is Chinese tech giant Xiaomi. According to a report by Venture Beat,
has disbanded its development team behind VR headsets. Incidentally, the VR headsets developed by Xiaomi were for none other than
. The social media giant had partnered with Xiaomi to develop
The Venture Beat report quotes a VR blogger Antony Vitillo who said that the news comes from “a very reliable source”. Vitillio said that the entire Mi and VR/Go development team has been asked to leave. There are reportedly about 12 employees in the team who were “responsible for maintaining and evolving the platform.” Xiaomi hasn’t confirmed the report, as per Venture Beat.
The blogger further suggested that the reasons for letting go off the Mi VR team include “disappointing sales and usage, low profit margins and lack of VR content.”
On its part, Facebook told Venture Beat that it has no plans to discontinue Oculus Go. A spokesperson from the social media giant said, “We don’t comment on our future product roadmap, but Oculus Go continues to be the best way to enjoy immersive entertainment, and is a great device for anyone just getting started in VR.