Meta partners with Tencent to bring VR headset back to China after 14 years

Meta Platforms has reached a preliminary deal with Tencent Holdings to sell a low-cost virtual-reality (VR) headset in China, where Facebook and Instagram are blocked. Tencent will become the exclusive seller of Meta's headsets in China, starting in late 2024. The deal allows Meta to re-enter the Chinese market and compete with Bytedance, the owner of TikTok. The headset, which will feature cheaper lenses than Meta's Quest 3, will also be sold in other markets. Meta will receive a larger share of device sales, while Tencent will earn more from content and service revenue.