To Grow Virtual Reality, Facebook Needs Its Own Oculus Store
Facebook's (NASDAQ: FB) Oculus division thinks it can get virtual reality in the hands of over 1 billion people around the world, an ambitious goal any way you look at it. It could make strides to that end by lowering the price of Oculus Rift to $399 and introducing the Oculus Go next year as a stand-alone VR headset for $199.
The bigger question may be how Facebook intends to get 1 billion devices in front of consumers in the first place. Virtual travel firm YouVisit estimates that only 11% of people in the U.S. have even tried virtual reality.
Even though the technology is growing, estimates are that Oculus Rift and HTV Vive have sold fewer than 500,000 units each, paling in comparison to a competing product like Sony's (NYSE: SNE) PS4 console, which has passed 67.5 million console sales. The lack of adoption means developers aren't making games, which leads to even less adoption. I think the key problem as Facebook looks to launch its next generation of VR devices is how it will get consumers to experience virtual reality.
Source: Fool.com
Meta Platforms Inc. Stock
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