HTC releases Virtual Reality headset, but would take 3-5 years to take off

By Money Times

Nov 04, 2015 01:26 AM EST

HTC Vive will release its virtual reality headset later this year, but only in limited qualities and it will take three to five years before it goes mainstream. 

CNET reported that HTC's chief content officer Phil Chen said it will take time for the technology to reach the masses, saying that it needs to be refined and have enough content produced. He said the company expects to sell a billion VR headsets in the next eight years. Vive is a VR headset that HTC has been working on along with game developer Valve. The VR headset may be marketed as a gaming product, but Chen said it is also very useful for the education and healthcare industries.

According to Re/code VR developers are concerned that HTC would stagger the Vive release since the big Taiwanese phone maker plans to lose 15 percent of its workers and cut costs by about 35 percent.

Meanwhile, according to Business Insider reporter writes that Vive will change the world. The HTC and Valve partnership is integral in bringing virtual reality to brand new heights. Valve is one of the major companies in the gaming industry. It runs the Stream store and it created some of the best games in history, like "Half-Life." HTC manufactures consumer technology products like the HTC One smartphone brand. This makes their partnership very promising.

HTC, however, has been struggling for the last few years with its sales number. Besides virtual reality, the company is also heavily investing in smart devices. It partnered with fitness gear maker Under Armour to create a fitness band device. HTC also launched its A9 midrange handset, which is like the iPhone.

So far, Chen hasn't given any information on how much their Vive will be sold for and how many units will be released. He said HTC is partnering with content partners all over the world and is making sure the virtual reality device will be available worldwide.

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