Tag: mobile world congress

According to HTC China’s President, VR is going to last longer than the smartphone cycle.

Virtual reality (VR) is going to dominate smartphones within four years, says Alvin Graylin, president of HTC China. Speaking at Mobile World Congress Shanghai, Graylin said that VR is the upcoming disruptor that will dominate mobile phones. It took smarpthones five years to surpass the total unit sales of PC and now he predicts VR will do the same to Smartphones in four years.

“VR is going to take over, and I predict it will last longer than nine years,” Graylin stated. “It’s going to replace every screen, and users will enjoy a different way to experience things like live events.”

HTC plans to invest billions in the future of VR.

HTC, the Taiwanese consumer electronics company, recently launched a consortium that brings together 28 of the world’s biggest VC (venture capital) firms. This consortium is dedicated to investing $10 billion in the future of virtual reality.

Graylin said at the Mobile World Congress that the VR VC Alliance will not only invest in a VR future but also set the direction for where this immersive technology is headed. “Think about what $10 billion can do for this industry,” he stated.

Graylin boasts that HTC’s virtual reality hardware is far superior to its competition.

HTC has put a great deal of time, effort and money into its VR headset Vive. Graylin said that compared to the VR hardware of other companies like Oculus, Samsung and Sony, Vive is way ahead of the game in terms of providing both a higher quality experience and having far more content.

Currently, Vive already has over 300 titles and Graylin said that this is like to become a “four-digit number very soon.” The executive expressed that the success of VR also depends on great content.

HTC launched its $100 million Vive X fund program two months ago. The program is designed to jump-start development. According to Graylin, the company has already received 1,200 applications from companies across the globe. Half of the companies are from China.

As for its plans to spin off its virtual reality group, an independent company was recently approved by the HTC board to operate the Vive business.

PayPal is looking to monetize its Venmo division

PayPal is attempting to successfully monetize Venmo after having acquired the mobile payments firm in 2013, hoping to take advantage of the growing popularity of mobile commerce. Venmo has gained popularity among consumers as it allows them to send and receive payments amongst one another. The service blends the mobile commerce world with social elements, which has given it a competitive edge over other services that have sought to establish a foothold among mobile consumers.

Venmo processed $7.5 billion in mobile payments in 2015

In 2015, Venmo processed some $7.5 billion in mobile transactions, a 213% increase over what it had processed in 2014. This is only a fraction of the $282 billion in payments that PayPal processed last year, but Venmo is seeing aggressive growth. PayPal wants to monetize the service by allowing them to spend money through Venmo rather than only being allowed to transfer money to one another. Over the coming months, this aspect of the service is expected to mature and become well liked among consumers interested in mobile commerce.

PayPal is looking to expand into European markets to support mobile transactions

Apart from Venmo, PayPal is looking to expand on various fronts in the mobile payments field. At this year’s Mobile World Congress, PayPal announced a new partnership with European telecommunications company Vodafone. Through this partnership, millions of PayPal’s European customers were able to use their Android devices to make purchases using the Vodafone Wallet service. This service is expected to break into several European markets in the coming months.

PayPal is establishing a stronger foothold within China

PayPal has also extended its partnership with Alibaba, the largest e-commerce group in China. Together, the two companies have launched a new pilot program, through which retailers can accept PayPal payments. This program is tailored for merchants that want to sell products through Alibaba Wholesale, providing them with a way to effectively connect with mobile shoppers. This may be good news for PayPal, as China is one of the world’s fastest growing mobile commerce markets.