Xiaomi Corp. has launched a virtual reality headset with Facebook Inc. subsidiary Oculus VR LLC for the Chinese market.
The Mi VR Standalone headset was developed exclusively for the Chinese market, Oculus VR had said in a blog post earlier this year. Mi VR Standalone will be powered by the Qualcomm Inc. Snapdragon 821 Mobile VR platform and that it will share the same core hardware features and designs as its own VR headset, Oculus Go.
Xiaomi made the announcement at an event where it also launched its Mi 8 smartphone series, a fitness tracker, an LED TV and its proprietary operating system, MIUI 10.
The Beijing-based smartphone marker said its global market share of consumer internet of things hardware by number of connected devices as of Dec. 31, 2017, was 1.7%, compared to Apple Inc. and Amazon's 0.9% and Google Inc.'s 0.6%.
Xiaomi is also targeting a June 7 listing hearing in Hong Kong for an IPO, Bloomberg News reported May 25. The IPO is expected to raise at least $10 billion with the company discussing a possible valuation of $60 billion to $70 billion.
