Increased reality Nreal company aims to IPO within 5 years, CEO says

SHANGHAI – Nreal, a Chinese eyewear manufacturer for so-called increased reality experiences, is trying to go public within five years, its CEO told CNBC.

“We are thinking this is a really important one tech market and really watching forward to what is about to happen in the next 10 to 15 years. Very exciting – I think it is more like ’06, ’07 of the smartphone business, “Chi Xu, CEO of Nreal said.

“You see a lot of good opportunity and, of course, we are thinking about the market the size will be huge. And we have this opportunity and we want to bring this to the final end.”

He said an initial public the offer could come in “less than 5 years”.

The company’s flagship product is a pair of lightweight glasses called Nreal Light, which was released in a handful of markets including South Korea and Japan. Nreal says his glasses allow users a experience “mixed reality” where is it digital the images are superimposed over the real world.

The Nreal Light connects to a smartphone. One of immediate uses free people from being tied to theirs small smartphone screens.

“Whatever you are viewing in the mobile phone screen in front of you, you put it on in front of your face, in a huge screen, and this can be 3D, which can be ultra-high definition, “Xu said.

One participant tests a pair of Mixed Nreal-reality eyewear at the MWC Shanghai exhibition in Shanghai, China, on Tuesday 23 February 2021.

Qilai Shen | Bloomberg | .

Nreal’s ambitions put him to the test against technology giants they see a bright future in increased reality. Apple CEO Tim Cook called AR the “next big what “and the giant of the iPhone is reportedly Working on a headset. Facebook, Microsoft, Google and others technology all companies are investing in AR.

But current earphones on the market I’m expensive and often bulky. Nreal hopes it’s portable nature consumers will like it. The price varies by market employee on how is distributed. For instance, in In Japan the headset costs about $ 700. But in South Korea, the device can be purchased through a telecom plan of the operator subsidizing the headset at around $ 300.

Deal model

Nreal has a platform for developers create apps for headphones operating system called Nebula.

“It’s very similar to what Apple did for smartphone, “Xu said.” We offer a platform where people use That for different kinds of experiences e developers – they can take sides, they can develop in different way content in field”.

Apple doesn’t just do it money from sales of its iPhones and other hardware but it is also gets commission income off its App Store.

Nreal has some notable supporters. Kuaishou, the short film platform in China and iQiyi, a video streaming service, are among the company’s investors. Xu said Nreal would work with both Kuaishou and iQiyi.

“As we said, we will not only supply the hardware. We will want to bundle different services with the glasses. So take a video for example, be it a long video or a short video. We think glasses are a much better terminal for experience video in”said the CEO.

“That’s why we will work with those giants, really working on the new interface.”

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