Tencent has reworked its intentions for VR hardware

Tencent has reworked its intentions for VR hardware ...

Tencent, a Chinese company, has lowered its efforts to develop VR hardware, according to a report.

Tencent, a Chinese company that employs around 300 people, is planning to cut costs and staff, according to a new Reuters news report. The department for "augmented reality" is thought to be affected by staffing cuts as a result.

Tencent hasn't yet released any information on the details and only mentions "adjustments in several business teams."

More than takeovers and mergers, Tencent is expected to increasingly rely on majority and controlling holdings, especially in foreign gaming enterprises. Metaverse assets are also said to be of interest to the company.

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