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ByteDance's VR Arm Faces Overhaul and Layoffs
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ByteDance's Pico, a VR arm, is undergoing major overhaul and layoffs due to disappointing global sales of its VR headsets, affecting hundreds of employees globally. The reorganization is a setback for ByteDance, which acquired Pico to compete with Meta's Quest line of VR headsets, amidst declining global demand for VR headsets.
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How will the overhaul and layoffs at Pico impact ByteDance's overall business strategy?
In what ways can ByteDance and Pico adapt their VR ambitions to align with changing market trends and consumer preferences?
What factors are contributing to the decline in global demand for VR headsets, and how might this affect the future of the VR industry?
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