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China’s virtual reality (VR) market has seen a significant decline, with shipments dropping by 56% YoY in H1 2023, compared to the global market’s 39% drop. Factors contributing to the decline include Pico’s scaled-back marketing efforts and the lack of compelling applications and content ecosystem. However, there is buzz around Apple’s upcoming MR headset, the Vision Pro, inspiring local companies to invest in R&D. Chinese smartphone OEMs are also re-evaluating their stance on AR/VR headsets.
