On September 29^th, the Virtual Reality Industry Alliance (The Alliance) of China was formally established in Beijing, China. The alliance was initiated by the China Center for Information Industry Development (CCID) and Goertek Inc. It is the first international alliance for the VR industry that has been initiated by China. The Alliance is dedicated to solving key common issues in the VR field. After the launch, The Alliance will begin working on many aspects of VR including formulating industry standards.

Photo: The Alliance Leaders, Virtual Reality Alliance Launch Ceremony, Beijing.

During the launch ceremony, statutes of the VR Industry Alliance were passed and Goertek Inc. was elected as one of the first council members. Jian Bin, Chairman and founder of Goertek, will serve as The Alliance’s Vice President.

Goertek will take part in the drafting of VR technical standards, serving in the capacity of Director of the Commission for Generic Technology Affiliated with The Alliance. The Alliance is committed to: promoting VR applications within society; serving as a regulating and consulting body for VR; supporting development of key technologies; stimulating financing and investment; and building international collaborations. The alliance will focus on establishing a VR ecosystem to push forward the development of a healthy international VR industry.

?"Goertek's business layout focuses on the interconnections between intelligent products to realize their organic integration through the construction of an ecosystem combining VR and intelligent hardware" said Jiang Bin, Goertek's Chairman, "basically, we are going to build a new platform that is hardware+software+system platform+content services." Meanwhile, based on Goertek's platform of smart products, we will extend our business to provide solutions to industries such as education, entertainment and culture, and set up offline experience stores and crowd innovation spaces. Then, we may gradually enter into cultural industries like education, entertainment, tourism and health.”

According to Goldman Sachs' predication that by 2025, the global VR industry will reach $182 billion. It is projected that by 2020, VR industry in Chinese market is going to be $ 8.5 billion which may make the Chinese market the center for future growth of the global VR market. Understanding the new opportunities for the VR industry, Goertek has a rare development opportunity. Goertek is taking VR and smart hardware as core parts of our business, relying on sensors and intelligent manufacturing as a base, we are entering into the cultural and health industries to make ourselves one of the top-ranked enterprises in the field of VR and emerging smart industries.