Meta and Tencent have reached an agreement for Tencent to be the exclusive distributor of Meta’s headset VR in China, similar to how Tencent is the distributor for Nintendo Switch, pending government approval. Reports indicate that Meta’s VR headset, which will be available in China in 2024, is a cost-effective version with better specifications than the Quest 2 and a lower price than the Quest 3. Meta also plans to sell this headset in other countries.
If this deal goes as planned, it will mark Meta’s return to the Chinese market after being blocked since 2009, along with other services such as WhatsApp and Instagram. At the same time, Tencent will collaborate with Meta to develop VR content on Meta’s platform.
TLDR: Meta and Tencent have agreed for Tencent to distribute Meta’s VR headset in China, with better specifications and a lower price than its competitors. This deal will enable Meta’s reentry into the Chinese market, while Tencent will collaborate with Meta on VR content development.