oculus price cut

Oculus Price Cut : Oculus, Facebook-owned virtual reality company is temporarily cutting the price of its hardware. The industry is trying to figure out the technology for immersive games and stories with low prices.

Oculus has announced a price cut on its Rift headset and Touch controllers to $399 for six weeks starting coming Monday. The price of the combined rift head headset and Touch controllers matches PlayStation VR, made by Sony. HTC developed Vive has been listed for sale at $799 on its website and also have announced price cut recently.

Facebook paid about $3 billion back in 2014 to acquire Oculus and retain its employees. Back then, Chief Executive Officer Mark Zuckerberg claimed that Oculus offers a 360-degree panoramic view through headsets. It would “become a part of daily life for billions of people”. It didn’t work out, however it is unclear that if these high prices or something inherent in the technology or any other such reason.

Oculus Reveals Touch Controllers and Earphones

“Pricing discounts are sometimes a sign of weak product sales. That was not the case with Oculus, we could have cut the price sooner but wanted to wait until there were enough games, movies and other entertainment to keep a broad audience busy,” Says Jason Rubin, Oculus vice president for content.

The pace of game releases has set on the roll much faster, making way for a wider appeal.”We’re now in a space where the mass market can be much happier,” Rubin added.

Before this year, Oculus has to drop its price from $798 to $598 in March. Oculus shut the doors of its Story Studio in May, two years after it launched at the Sundance Film Festival.

A $500 million legal judgment against Oculus in February was another setback. Video game publisher ZeniMax Media Inc accused Facebook and Oculus of copyright infringement. When a jury found in favor of ZeniMax Media Inc, Oculus has asked for a new trial.

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