ByteDance, the parent company of Pico, has debunked the rumors of a shutdown. - Road to VR
Pico Shutdown Rumors are False, Says Parent Company ByteDance
The recent rumor that TikTok parent company ByteDance is planning to shut down its XR hardware subsidiary Pico Interactive is false, according to the company. A Chinese publication had reported that ByteDance was gradually abandoning the PICO business due to poor performance. However, ByteDance has disavowed the report, stating that PICO is operating normally and the company plans to invest in XR business in the long term. Pico Interactive, which was acquired by ByteDance in 2021, has released several standalone VR headsets, including the recently launched Pico 4. Despite not being available in the United States yet, Pico has been focused on bringing popular Quest apps to its devices. Earlier this year, Pico also went through a round of layoffs, although it was clarified that only a small number of colleagues were affected. For more details, please visit the source at Road to VR.
Source: https://www.roadtovr.com/pico-shutdown-rumor-bytedance/