Meta intends to re-enter the Chinese market by releasing a completely new version of Mixed Reality Glasses, which will be priced competitively through an exclusive partnership with the video game company Tencent.
According to a report by the Wall Street Journal, Meta plans to start marketing its glasses in the country with the world’s second-largest economy by the end of 2024, but there are still some details that need to be finalized.
Since the ban of the Facebook app in 2009, Meta has no longer had a presence in China. However, according to the report, the new glasses, named “Quest 3”, will be more efficient than the previous “Quest 2”.
It was mentioned in a report by the Wall Street Journal a few months ago that Zuckerberg was trying to persuade government officials to sell his company’s products in Beijing, but the report then confirmed that these attempts could fail due to his criticism of China.
Regarding the distribution of sales share, reports indicate that Meta will receive the larger percentage of sales, while Tencent will have a larger share of revenues associated with content and services like game sales.
However, it is not clear whether Tencent will need government approval to sell the new Mixed Reality Glasses. It is expected to be sold at a low price in regions and territories other than China.
The gaming sector is considered one of the most important activities in the virtual glasses industry, but strict Chinese restrictions continue to significantly impact Tencent, the world’s largest video game company.
