Tech

China plans to ship 25 million virtual reality devices worth 350 billion yuan by 2026


China announced its first action plan dedicated to virtual reality on Tuesday, with its industry target to ship more than 25 million devices with a value in excess of CNY 350 billion (about 3,97,800 crore). ) in 2026. It is published by five ministries in Beijing, led by the Ministry of Industry and Information Technology, and has considered virtual reality as a key industry for the digital economy according to the plan 5 14th year of the country. The article includes augmented reality and mixed reality in its definition of virtual reality.

This first action plan reflects Beijing’s ambition to lead the world in virtual technology and sets detailed goals.

China did not specify whether the target of 25 million devices is called annual or cumulative shipments between now and 2026.

In the first half of this year, China shipped just over half a million virtual and augmented reality devices, according to research firm IDC.

The plan also includes a goal of bringing the total value of the industry to more than 350 billion yuan (about Rs 3,97,800 crore), which the ministries said includes both hardware and software sales.

It added that China will need to nurture 100 core companies and form 10 public service platforms for the industry by 2026.

The China Academy of Information and Communications, a state-backed think tank, released a report on Tuesday saying that China’s motivations for the action plan should be viewed in the context of The US and South Korean governments have identified virtual reality as an important industry.

It also refers to global tech giants including Meta, Microsoft, Apple, Google and Tencenton the grounds that they are companies that are rapidly pursuing virtual reality opportunities.

© Thomson Reuters 2022


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