Similar Stories to Imax Pulls The Plug On Its Dream Of Vr Arcades on Bing News

The company behind the biggest screens in cinema is giving up on bringing VR screens within a few inches of users’ faces. The company announced today in a SEC filing that it will be shutting down its three remaining virtual reality centers including its flagship location in Los Angeles. Via the filing: In connection with the Company’s previously-announced strategic review of its virtual reality pilot initiative, the Company has decided to close its remaining VR locations and write-off certain VR content investments. The locations in LA, Bangkok and Toronto will be shuttered in Q1 of 2019 according to Variety. After making a lot of noise about the centers at launch, the company seemed to realize pretty quickly that the economics just weren’t there.

Topics:  sec   angeles   company s   la   bangkok   toronto   q1   variety    vr   american   imax s   earlier   google   vr   a   company   imax   centers   lot   filing   screens   shutting   

 

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