Tencent Scraps Plans For VR Hardware as Metaverse Bet Falters

Tencent is abandoning plans to venture into virtual reality hardware, as a sobering economic outlook prompts the Chinese tech giant to cut costs and headcount at its metaverse unit, Reuters reported Friday, citing three sources familiar with the matter. From the report: The world's largest video game publisher had ambitious plans to build both virtual reality software and hardware at an "extended reality" XR unit it launched in June last year, for which it hired nearly 300 people. It had come up