Facebook Inc (NASDAQ:FB)’s acquisition of Oculus VR Inc. is proving pretty beneficial for the company when it comes to developing ties with hardware manufacturers in Asia. Facebook Inc (NASDAQ:FB) completed the acquisition of Oculus VR Inc. in July this year, but even before the acquisition Oculus VR Inc. had been closely working with Samsung in developing virtual reality headsets and had been having talks with Sony Corp (ADR) (NYSE:SNE) on the same matter. A Bloomberg article has disclosed the ties that Facebook Inc (NASDAQ:FB) is inheriting with its acquisition of Oculus VR Inc.
The article revealed that Oculus VR Inc. has been working with Samsung for over a year in developing devices that take virtual reality to the world of smartphones. The result of that collaboration is the Samsung Gear VR headset which was unveiled yesterday. The headset allows users to access photos, a virtual movie theatre and other content on their Samsung Galaxy Note 4 smartphones by connecting to it wirelessly.
According to analysts, Samsung is facing the heat in other segments, especially in smartphones. This is compelling the company to look at new segments for growth and a testament to that is the wearable device segment, in which the company is continuously coming out with new devices.
Even though Sony Corp (ADR) (NYSE:SNE) is developing its own headset for virtual reality experience, which is named ‘Project Morpheus’, the company is also collaborating with Oculus VR. The article quoted Shuhei Yoshida saying that Sony Corp (ADR) (NYSE:SNE) looks at Oculus VR Inc as a partner instead of a competitor.
Regardless of what kind of monetary benefits these partnerships bring to Oculus VR Inc and in turn to Facebook Inc (NASDAQ:FB), one thing is sure that they will definitely help the social media giant to form a close working relationship with some of Asia’s biggest hardware manufacturers.
As of June 30, 2014, Mario Gabelli‘s GAMCO Investors owns over 30 million shares of Sony Corp (ADR)(NYSE:SNE) and Philippe Laffont‘s Coatue Capital owns over 5.8 million shares of Facebook Inc (NASDAQ:FB).
Disclosure: None
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