Pico is shedding a whole bunch of employees, South China Morning Publish stories.
The report cites “two folks accustomed to the matter.” A kind of folks reportedly mentioned the cuts symbolize a “substantial portion of Pico” with some groups seeing as a lot as a 30% discount. The opposite particular person reportedly mentioned even some higher-level positions are affected.
No cause for the cuts is given, however a November report from Sina Know-how claimed early Pico 4 gross sales weren’t assembly expectations, main the corporate to cut back manufacturing orders. Nonetheless, Pico claimed preorders had seen “unprecedented” demand, and Pico 4 was by far the quickest rising headset on SteamVR in November.
A spokesperson for Pico supplied the next assertion: “Whereas we proceed to rent as a enterprise globally, we’re streamlining our group and, in consequence, parting methods with a small variety of colleagues. We significantly respect these colleagues’ contributions and are working intently with these impacted to help them by this time of change.”
Pico isn’t any newcomer to VR – it revealed its first headset in 2016. In 2021 it was acquired by ByteDance, the Chinese language tech big behind TikTok. Pico all the time bought to Chinese language customers, however elsewhere it had beforehand targeted on companies. This modified final yr with the launch of Pico Neo 3 Hyperlink to European customers. Nonetheless, that was pitched as a “beta program.” Pico 4 is its first critical shopper play and the primary critical competitor to Meta’s Quest 2.
Pico 4 is powered by the identical Qualcomm Snapdragon XR2 Gen 1 processor utilized in Quest 2 however has a vary of enhancements: a slimmer and lighter design, increased decision, wider and taller area of view, coloration passthrough, exact motorized lens separation, and improved controllers. Nonetheless, content material is king – whereas a big chunk of Quest’s content material library has been ported over, ByteDance has but to supply standalone unique titles to match the likes of Meta’s Beat Saber, Resident Evil 4, Inhabitants: ONE, Onward, and Iron Man VR. Pico introduced its first main unique, Simply Dance VR, final yr, set for a 2023 launch.
Pico 4 isn’t bought in North America. Nonetheless, last yr the corporate posted a job itemizing for a place that will be “accountable for the gross sales and advertising of Pico’s total product within the US shopper market,” suggesting that strategy would possibly change sooner or later.
source https://vrgamenews.com/pico-reportedly-laying-off-hundreds-following-pico-4-launch/
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