{"id":12248,"date":"2023-11-10T16:40:18","date_gmt":"2023-11-10T16:40:18","guid":{"rendered":"https:\/\/infundpros.com\/markets\/meta-is-returning-to-china-its-a-rare-win-for-zuckerbergs-metaverse-push\/"},"modified":"2023-11-10T16:40:19","modified_gmt":"2023-11-10T16:40:19","slug":"meta-is-returning-to-china-its-a-rare-win-for-zuckerbergs-metaverse-push","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=12248","title":{"rendered":"Meta Is Returning to China. It’s a Rare Win for Zuckerberg’s Metaverse Push."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

\n Meta
\n Platforms is returning to China, 14 years after Facebook was shut out of the country. This time, Meta will be looking to attract Chinese consumers to its virtual-reality technology rather than its social-media platforms.\u00a0<\/p>\n

\n Meta
\n (ticker: META) has reached a preliminary agreement to sell a lower-priced version of its VR headset via a partnership with China\u2019s
\n Tencent Holdings
\n (TCEHY), The Wall Street Journal reported late Thursday, citing people familiar with the matter.\u00a0<\/p>\n

\n

Meta shares were up 0.7% in early trading on Friday. The company didn\u2019t immediately respond to a request for comment on the report. <\/p>\n

If it won\u2019t quite make up for Facebook being blocked in China since 2009\u2014Instagram and WhatsApp are also prohibited\u2014the deal is a potential positive for Mark Zuckerberg\u2019s investment in the metaverse and its vision of a world of virtual interactions.<\/p>\n

Zuckerberg has said Meta\u2019s priority is now artificial-intelligence technology. But the company\u2019s Reality Labs division, which focuses on the metaverse, still lost $11.47 billion in the first three quarters of the year. Its losses are expected to widen in 2024. Adding a significant consumer market could help allay concerns about the division\u2019s spending. <\/p>\n

The market remains largely skeptical about Meta\u2019s metaverse ambitions. The global market for AR\/VR headsets was 9 million units in 2022, down 20% from the previous year, implying a total market of $4 billion, according to a Morgan Stanley analysis. <\/p>\n

In the Chinese market, downinated by ByteDance and DPVR, shipments of extended-reality headsets came to more than 1.1 million units in 2022,\u00a0according to Counterpoint Research. But shipments fell by 56% in the first half of 2023 compared with the same period a year earlier as Chinese consumers have pulled back on spending. <\/p>\n

Meta recently started shipping its\u00a0Quest 3 virtual-reality headset at $499. The launch comes just months ahead of the expected launch of\u00a0Apple\u2018s (ticker: AAPL) first hardware entrant into the VR segment, the Vision Pro, which is scheduled to ship early in 2024 at a significantly higher price. <\/p>\n

Meta\u2019s headset for the Chinese market will use cheaper lenses than the Quest 3 model. Sales are set to begin late next year. Meta will take a bigger share of revenue from device sales while giving Tencent a bigger slice of content-and-services revenue, according to the Journal.<\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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