If a product doesn’t pick up in the market, slash its price and try again. Facebook seems to follow this strategy religiously as it slashed the price of virtual reality goggles Oculus Rift by $200, hardly within a few months. The latest price drop was announced on Monday, which stated the combined price of Rift headgear and the optional Touch hand controllers has been lowered again.
However, according to Jason Rubin, vice president, Oculus, this price drop is aimed to “ prime the pump and make sure there’s plenty of people coming to VR.” It may be recalled that in early March, the price of the combined Rift-Touch unit was brought down to $598 from $798. Now, it further goes down to $399.
According to market insiders, Oculus is not a flop in any way. During the first half of 2017, Facebook registered 5,20,000 customers for its product. But, considering Facebook’s stature, this seems to be a pretty insubstantial figure. Whereas, on the other hand, the nearest rivals, Sony and HCT, sold some 1.6 million PlayStation and 7,70,000 Vive units respectively in the same period.
While interacting with the media, Rubin further clarified the price drop was a part of the larger picture – to build an ecosystem of VR users. He argued, when Oculus was first launched, there were hardly some 30 titles. Now, that has increased to above 500; thus, according to the argument, the sales actually picked up when the price was $399. Oculus, according to expert techies, has a huge market potential. It offers a range of innovative games to redefine the experiences of even the seasoned gamers. Experts in the market opine the further price slash will bring in more customers to the product.
As such, the future of every technology that exists today is highly uncertain. Thus, there still has to be some cautious observation before predicting the future of the Facebook hardware commodity. As of now, there is nothing to worry. Hopefully, the unprecedentedly popular social media platform is on the right track to pump up the conversion of its product.