The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Startups & Tech

SUBSCRIBERS

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

Published Thu, May 19, 2016 · 09:50 PM
Share this article.

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.

"This really feels like 2007 all over again," Mr Kunimitsu said, referring to the iPhone's debut and…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Technology

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here