Baofeng reveals acquisitions as 1 million VR handsets sold

An early adopter experiences the shooting game named "VR Shoot" that powered by SweetTech's "room-scale tracking" solution at the China (Beijing) Attractions Expo 2016 held in Beijing, March 15, 2016.VR experience stores are expected to boom in China. [Liu Zheng/chinadaily.com.cn]

He is now targeting 10 million sales by the end of 2016, sold through a network of some 20,000 offline VR stores.

He also announced Baofeng has just bought Internet game developers GumpTech Co Ltd and Lidong Technology Co, and Jiangsu Straw Bear Pictures, for a total investment of 3.1 billion yuan ($480 million).

A new joint venture VR film and TV program company is being created with Jiangsu Straw Bear, which hopes to release its first VR video within months, said Feng, while it will use Lidong to help expand its VR games offerings.

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