The time spent on video and chat messaging platforms is rising. Lockdown has further fueled the growth in mobile-based digital interactions. Tech giants are in a ballistic race to acquire and test new-age capabilities in delivering interactive content for seamless experiences.
While Apple's specific intentions for NextVR are not clear, the purchase aligns with its ambitions to become a major player in the XR ecosystem.
Apple confirmed its acquisition of NextVR, a startup that broadcasts events to virtual reality headsets, and also holds more than 40 patents for VR technology.