ByteDance is said to be in the process of acquiring Beijing-based Pico, reported VR news site Vrtuoluo. The deal will be signed for $770M (5B yuan). As one of the world’s largest VR-makers, Pico will enable ByteDance to enter the VR market fast. While current VR headsets are relatively expensive, due to high processor costs, it remains to be seen how ByteDance leverages its creative and technical talent to get the best out of Pico.
Source: The Verge