Apple, Meta Brace For Competition As India's Richest Man Enters VR Headset Battle With A $16 Device

Mark Zuckerberg‘s Meta Platforms Inc (NASDAQ:META) and Tim Cook‘s Apple Inc (NASDAQ:AAPL) will soon clash fiercely with expensive offerings in the VR headset market. But India’s richest man is looking to play disruptor once again on his home turf with a VR headset that costs just under $16.

What Happened: Reliance Industries, owned and led by India's richest man Mukesh Ambani, this week launched its first-ever virtual reality (VR) headset called JioDive under its subsidiary Reliance Jio.

Jio’s affordable VR headset poses a significant threat to established global players such as Meta, whose upcoming Quest Pro is expected to cost $999, and Apple’s VR headset, which is rumored to be priced as high as $3,000.

See Also: JioCinema New Destination For HBO Shows? Reliance Said To Lure Warner Bros To An Exclusive Deal

Jio's latest gadget provides users a new way to enjoy the online IPL 2023 matches on a virtual 100-inch display with a 360-degree stadium view and the capability to watch other videos for a more engaging experience.

JioDive is a smartphone-based VR headset that works with the JioCinema app — RIL's answer to streaming giants Netflix and Disney's Hotstar. 

See Also: Tim Cook Hails India’s Market Potential: ‘Tipping Point’ Driven By Rising Middle Class

Why It Matters: Ambani’s affordable Jio VR headset appears to be a shrewd move, given India’s reputation for being price-sensitive and tough to crack for foreign brands with costly products.

The billionaire's conglomerate has been ramping up his game against some major global brands as Ambani sets the stage to expand his empire. RIL recently took steps to counter Coca-Cola and PepsiCo with the revival of the Campa-Cola brand. 

Last month, to cut Starbucks’s growing influence in the country, it partnered with a British sandwich and coffee chain to launch India’s first Pret-A-Manger outlet. 

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