ByteDance has dismissed recent rumors of its plans to gradually shut down Pico,Philippines a virtual reality startup acquired by the TikTok owner in 2021. A ByteDance spokesperson told Chinese media outlets that Pico is running normally, with a commitment to long-term investment in the XR business. Pico held a 58.7% share of China’s VR headset market during the first six months of this year, according to market intelligence firm IDC. The company has not revealed any sales or shipment numbers on its flagship Pico 4 since its launch last September, but a previous report noted that Pico lowered its sales targets by half to 500,000 units in 2023 due to a slump in demand. [36Kr, in Chinese]
