Facebook Buys W1 Billion Worth of Samsung Virtual Reality Gear

      February 24, 2016 09:07

      Facebook has placed orders for 8,000 units of Samsung Electronics' virtual reality headset Gear VR. The social media company is aggressively investing in virtual reality technology and hopes to exploit the market in earnest.

      Facebook acquired 3,000 Gear VRs for its developers and the remainder for other employees, according to a market insider on Tuesday. The order carries a price tag of roughly W1 billion.

      Samsung has been developing VR headsets in partnership with Oculus VR, a start-up Facebook acquired in 2014. The Gear VR is also jointly developed by the two companies.

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