According to a report from The Information, Pico has canceled its plan to launch the new Pico 5 VR headset, as the sales of Pico 4 fell short of ByteDance’s expectations. Instead, Pico will release an updated version of the Pico 4, but there are no details yet on what will be added. The report states that ByteDance has instructed Pico to focus on developing high-tech headsets, targeting the same market level as Apple’s Vision Pro. This project, which started internally with the code name “Swan,” may reflect a strategy shift from launching new versions to emphasizing competitive pricing and distinguishing products to better compete with Apple.
Previously, Pico had laid off approximately 1,000 employees, accounting for 60% of its workforce. Some of these employees were transferred to ByteDance for employment.
(Source: UploadVR)
TLDR: Pico has canceled the launch of the Pico 5 VR headset due to lower than expected sales of the Pico 4. Instead, they will release an updated version of the Pico 4, focusing on developing high-tech headsets to compete with Apple. Pico has also laid off some employees, with some being transferred to ByteDance.
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