Japan's gaming companies now bet on virtual reality startups
Gumi CEO says it "feels like 2007 all over again" - the year the smartphone era began, with the debut of the iPhone
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Tokyo
HIRONAO Kunimitsu turned Gumi Inc into a 32 billion yen (S$402 million) company by betting early on smartphone apps. Now, he's pouring money into virtual reality (VR), on the hunch that we're on the cusp of the next tech boom.
The CEO of the mobile-games company isn't alone. Other Japanese peers, including Gree Inc, invest in the sector. Some of the biggest names in technology, including Facebook and Microsoft have committed billions of dollars to the business of simulating reality, with research firm Gartner predicting VR headset sales will top US$20 billion by 2020.
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