Augmented reality company Enreal is targeting an IPO within five years, says CEO

Shanghai — The CEO told CNBC that Nreal, a Chinese company that makes so-called augmented reality glasses, is aiming to be released within five years.

“This is a really major tech market and I’m really looking forward to what will happen in the next 10 to 15 years. It’s very exciting. It’s like the ’06, ’07 in the smartphone business. I think, “said Chi Xu, CEO of Enreal.

“We are seeing many good opportunities and we definitely think the market size will be huge, and we have this opportunity and want to end it in the end. “

He said the initial public offering could come “within five years.”

The company’s flagship product is lightweight eyeglasses called Nreal Light, which are available in several markets, including South Korea and Japan. Enreal states that the glasses allow users to experience “mixed reality” in which digital images are superimposed on the real world.

Nreal Light connects to your smartphone. One of the immediate uses frees people from being tied to a small smartphone screen.

“Whatever you see on your phone screen in front of you, place it on the big screen in front of your face. It’s 3D and can be ultra-high definition,” Xu said. Mr. says.

Attendees will try out Nreal’s mixed reality glasses at the MWC Shanghai Exhibition on Tuesday, February 23, 2021 in Shanghai, China.

Qilai Shen | Bloomberg | Getty Images

Nreal’s ambitions counter tech giants looking at the bright future of augmented reality. Apple CEO Tim Cook called AR “next big thing” And the iPhone giant Reportedly Working with a headset. Facebook, Microsoft, Google And all other tech companies are investing in AR.

However, today’s headsets on the market are expensive and often bulky. Enreal wants its portability to appeal to consumers. Prices vary by market depending on the distribution method. For example, in Japan the price of a headset is about $ 700. But in South Korea, devices can be purchased through a carrier’s plan to subsidize headsets for about $ 300.

Business type

Nreal has a platform for developers to create apps for headset operating systems called Nebula.

“This is very similar to what Apple has done with smartphones,” Xu said. “We provide a platform for people to use it for different types of experiences and developers. They can deploy and develop different content in the field.”

Not only does Apple make money from selling iPhones and other hardware, but it also makes money from commissions from the App Store.

Nreal has notable supporters. Kuaishou, China short video platform iQiyi, Video streaming service is one of the company’s investors. Xu said Enreal will work with both Kuaishou and iQiyi.

“As I mentioned earlier, we want to not only provide the hardware, but also bundle a variety of services with the glasses. For example, we’ll cover the video, whether it’s a long video or a short video. Glasses are much better. I think it’s a terminal, to experience the video. “

“That’s why we’re working with those giants and actually working on new interfaces.”

Augmented reality company Enreal is targeting an IPO within five years, says CEO

Source link Augmented reality company Enreal is targeting an IPO within five years, says CEO

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