Apple is all set to step in the Augmented Field and is formulating the ideas to bring the revolution in the entertainment field using a blend of AR and VR with an advanced headset. To materialize its creative ideas, Apple is ready to acquire NextVR, a Virtual Reality Company having HQ in California.
Why Apple is interested in acquiring NextVR?
In the year 2017, Apple launched ARKit and after its success, the next version, i.e. ARKit 2.0 was launched in 2019. Now, most of the apps that are found in the Apple Store are embedded with ARKit. Even the CEO of the Company reported that AR Technology is the need of the next generation and Augmented Reality and will play a crucial role in the same.
In terms of revenue, Apple’s initiative in the AR field will boost the revenue because of the apps that will support AR and currently Apple has 480 million paid users. During the present times, the Company is looking to accelerate the deal because of the loss in the sale of the iPhone due to COVID-19.
Why only NextVR?
NextVR is a company that has years of experience in designing and developing VR and has a good hold in the market because of its quality products. Also, NextVR has good bonding with NBA, Fox Sports and other live streaming sports and music companies. The California based company has 40 patents of VR which means the revolution in the technology is yet to come and Apple doesn’t want to lose this opportunity.
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Moreover, the VR designed by the company offers the utmost pleasure to the users due to the high-quality graphics of videos that support VR headsets.
What’s the Deal?
In 2019, NextVR faced funding issues and sacked nearly 40% of employees and Apple is showing keen interest in this staff that was responsible of various product development. The deal is of $100 million but the acquisition is still open and still waiting to get the official confirmation from the companies.