Tech Giant Apple Plans To Acquire Virtual Reality Company “NextVR”

Cupertino-based tech giant Apple is planning to acquire California-based virtual reality company NextVR in a deal said to be worth $100 million, the media reported.

NextVR is a company that melds VR with sports, music, and entertainment, offering VR experiences for watching live events on VR headsets from PlayStation, HTC, Oculus, Google, Microsoft, and other manufacturers, reports MacRumors.

Please Follow NewsGram on Twitter To Get Latest Updates From Around The World!

According to the NextVR website, the company has established partnerships with the NBA, Wimbledon, Fox Sports, the WWE and more.

The California-based company has been struggling in recent years, leading to a 40 per cent staff reduction recently.

Though iPhone maker has not yet disclosed the acquisition sum, the NextVR employees have been told that they will need to relocate from Southern California to Cupertino.

Apple's rumoured augmented reality (AR) glasses are also under development and may launch by 2022.

ALSO READ: Xiaomi Patents New Smartphone With "Waterfall Display" (Tech Report)

The company is developing two head-worn products, including a combination AR/VR headset for release in 2022 and "full-fledged" AR glasses for release by 2023. (IANS)