ByteDance takes on Meta in VR market

TikTok, with an office in Culver City, Calif., has seen its short-video app soar in popularity. PHOTO: JANE HAHN FOR THE WALL STREET JOURNAL TikTok sister company Pico has tripled its market share in VR headsets, encroaching on a space that Meta Platforms Inc. has identified as vital to its future.  International Data Corp, a research firm, revealed that Meta held 90% of the market share about a year ago but 75% at the end of the third quarter, while Pico went to 15% for second place.  ByteDance Ltd., TikTok's parent company, bought Pico, a Chinese startup that makes VR headsets, two years ago, establishing a new front in the company's competition with  Meta . Meta's Instagram and Facebook services have been fighting for users and advertising money against TikTok, which rocketed in popularity. Officials have expressed concerns the Chinese government could use TikTok data to spy on Americans. The TikTok app  has been banned  on federal government-issued devices. Biden administration officials want to try to force TikTok to be  sold to a U.S. company . Glenn Kachmar, a Canadian who teaches classes using VR, said Pico "is definitely a better headset in a lot of ways," praising its screen resolution and fit on his head.   Pico has reportedly boosted shipments of VR headsets as it tries to compete with Meta's Quest 2.

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