Condition for Popularization
An increasing number of less expensive virtual reality (VR) gadgets are being put on the market with VR being expected to be a new growth opportunity for IT companies around the world.
One of the examples is Samsung Electronics’ Gear VR. Recently, it released a new product priced at about 120,000 won, half of that of the Samsung Gear VR Innovator Edition. The company is providing the new product as a freebie for those pre-purchasing the Galaxy S7 smartphone in order to accelerate the popularization of VR devices and take the lead in the fledgling market.
LG Electronics, on its part, released the LG 360 VR, which can be combined with its G5 smartphone. The LG 360 VR is predicted to be priced at between 100,000 won 200,000 won. The Sony PlayStation VR, which is available from March 22, has a price of US$499, cheaper than the Oculus Rift (US$599) and the HTC Vive (US$799). Industry experts are predicting that Sony will be able to cement its position in the VR device market with the number of PlayStation 4 users amounting to 36 million or so worldwide.
Those in the industry agree that price holds the key to the popularization of VR devices and this is why the manufacturers are cutting the prices of their products one after another. In a recent survey by Horizon Media, only 25% of the 3,000 respondents in the United States answered that they are willing to buy a VR device priced at US$250 or more.