Chinese Tech Giants Pour Cash Into VR

BLoomberg: China’s Virtual Reality Market Will Be Worth $8.5 Billion and Everyone Wants a Piece
The three Web giants are using their money to employ a different perspective on the virtual-reality business than their overseas competitors. Instead of building headsets like Sony Corp., Facebook Inc. and HTC Corp., the Chinese companies are positioning themselves as middlemen: seeding dozens of startups and opening their platforms to developers of content and hardware while they wait for a dominant headset to emerge.

...At least 200 startups are working in China’s virtual-reality industry, according to IQiyi.com Inc., a Baidu unit. Venture-capital investments in China surged about 50 percent to $12.2 billion in the first quarter, according to London consultancy Preqin Ltd.

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