Meta Strikes Deal with Tencent to be Exclusive Seller of Lower-Priced VR Headset in China, Returning After 14 Years, to be Released in Late 2024

Meta, formerly Facebook, has struck a preliminary deal with Tencent to sell a new, lower-priced VR headset in China, marking its return to the country after 14 years. The agreement with Tencent will make it the exclusive seller of Meta's headsets in China. The VR headset is expected to be released in late 2024. This move comes as China is projected to represent 36% of the global $72.8 billion VR spend in 2024, up from over 50% of the $12 billion VR spend in 2020. The Meta Quest 3, priced at $500, is considered the best VR headset, but there aren't many big new games for it yet, according to CNET's VR/AR expert @jetscott.