Chinese tech giant NetEase has announced that it is set to launch its first virtual reality and augmented reality games. The announcement was made during the company’s latest earnings call. NetEase has been aggressively pursuing firms and startups dealing in the virtual reality and augmented reality market. The company participated in the Series B funding of American virtual reality content provider and live broadcast company NextVR.
In a statement, NetEase chief executive officer William Ding said, “NetEase has been well prepared to explore and innovate in mobile games since 2009, and that’s why we have been a leader in this field.” During Google’s 2016 I/O Conference, NetEase showcased its collaboration with Google’s Daydream VR. Ding later claimed that NetEase is the sole exclusive partner of Daydream in China, this is despite the fact that Chinese smartphone maker Huawei and personal computer manufacturer Asus have also made similar claims.
During the latest earnings call, it was revealed that gaming was NetEase’s biggest revenue contributor during the second quarter of the year. The report stated that the company’s net revenue in gaming amounted to $1.3 billion, of which $960 million were from online games. Ding claimed that NetEase has developed its virtual reality and augmented reality games. All of which are currently being tested. Ding said that these games would not be launched until the company’s virtual reality hardware devices have fully matured. Tech analysts expect NetEase to release its first augmented reality games before the end of the year.