Sony Corporation (NASDAQ:SNE) announced its entry into the Virtual reality headset market, by introducing its ‘Project Morpheus’ in the Electronic Entertainment Expo in Los Angeles today. Bloomberg Television’s Cliff Edwards reported the announcement in its Countdown program.
In a conversation, with Mark Barton and Anna Edwards, Cliff Edwards said:
“Yes, that’s the first thing you should mention. It is a very young market, but Sony is poised to succeed where others can’t because they have their own entertainment.”
Sony Corporation (NASDAQ:SNE) already has a sound presence in gaming and entertainment industry. It has its own movie and television shows, which the company can successfully leverage to create a good ‘immersive’ user experience.
Project Morpheus compared with Oculus
A comparable virtual reality headset product available in the market is Oculus, which was acquired by Facebook Inc. (NASDAQ:FB) a couple of months ago. Cliff Edwards explained that the two headsets are fairly similar in terms of the technology and the quality of output and added further that the manufacturers have shared the product features between themselves, with intent to improve the budding virtual reality market. Oculus, however, does have the challenge in terms of attracting the interest of developers in shaping it into a better product, while the brand recognition of Sony Corporation (NASDAQ:SNE), would help the company in evincing the interest of technologists in its project.
Virtual Reality Market – Are there other uses?
Responding to a question on other possible uses of the virtual reality headsets, such as in training etc., Cliff Edwards explained that currently the focus of its usage would be centered on gaming. Once the usage gains ground, with time other possible uses for the product will be explored.
James Dondero‘s Highland Capital Management has 1.99 million shares of Sony Corporation (NASDAQ:SNE) in its equity portfolio. Gamco Investors, managed by Mario Gabelli is another hedge, which holds 1.96 million shares worth $37.49 million.
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