Benzinga | Sep 8, 2021 04:49PM EDT

WiMi Hologram Cloud's Introduces WiMi HoloAR lens

* Holographic AR application technology provider WiMi Hologram Cloud Inc (NASDAQ:WIMI) has launched a new augmented reality head-mounted display (HMD) product, named "WiMi HoloAR lens."

* WiMi HoloAR lens aims to tap the surging demand for AR and VR products driven by the popularization of Metaverse and technological breakthroughs, WiMi CEO Shi Shuo said. WiMi's launch competes with the likes of Facebook Inc (NASDAQ:FB), Apple Inc (NASDAQ:AAPL), and TikTok's ByteDance Ltd.

* The Federal Communications Administration (FCC) certified WiMi HoloAR Lens would serve in virtual social networking, virtual entertainment, virtual education, virtual communications.

* The holographic cloud industry will see explosive growth with the popularization of Metaverse applications.

* Price Action: WIMI shares closed lower by 2.60% at $4.50 on Wednesday.