WIMI Reports Release of WiMi HoloVR to Enhance User Experiences in the Metaverse | Financial Buzz

WIMI Reports Release of WiMi HoloVR to Enhance User Experiences in the Metaverse

WiMi Hologram Cloud Inc. (NASDAQ: WIMI) reported release of a new Virtual Reality head mounted display product for consumers named “WiMi HoloVR” to push its software and hardware research and development of underlying holographic technology to expand the user experience of holographic VR technology in Metaverse.  This new display device is the first VR device that supports double clicking See through in China.  The product utilizes a Qualcomm Snapdragon XR2 processor with a display resolution of 3840×2160 standard 4k level.  Shuo Shi, the Founder and Chief Executive Officer of the Company said, “WiMi HoloVR, accelerates the process of image color management, connectable devices, and wearing experience, which builds a solid foundation in the expansion of the Metaverse scene. With the popularization of Metaverse and technological breakthroughs, people’s demand for AR and VR products will continue to grow. WIMI’s holographic XR(AR/VR/MR) head-mounted display product, likeWiMi Hologram SoftLight and WiMi HoloPluse LiDAR, has been licensed and approved by the Federal Communications Administration (FCC) to enter the US market. The new WiMi HoloVR will also be widely used in fields of virtual social networking, virtual entertainment, virtual education, virtual communications,etc. In the first half of 2021, our global operating revenue increased by about 202.2% year-on-year, gross profit increased by 189.8% year-on-year, net profit increased by 40.3% year-on-year and our R&D expenses increased by 463.6% year-on-year. We increase R&D investment to maintain the company’s leading competitive edge in the Metaverse and holographic AR industries. With the popularization of Metaverse applications, the holographic cloud industry where WIMI is located will see explosive growth. We will seize the growth opportunities of Metaverse market, continuously improve our Metaverse product matrix, and expand our market share to continue to create long-term value for the company’s shareholders.”

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