Benzinga | Dec 8, 2021 12:25PM EST

WiMi Shares Gain On VR Display Product Launch

* WiMi Hologram Cloud Inc (NASDAQ:WIMI) launched a new Virtual reality (VR) head-mounted display (HMD) product for the consumer market.

* The product named "WiMi HoloVR" aims to strengthen further the software and hardware research and development of the underlying holographic technology and expand the user experience of holographic VR technology in Metaverse.

* The product adopts Qualcomm Inc (NASDAQ:QCOM) Snapdragon XR2 processor, with the display resolution of 3840X2160 standard 4K level, 1058PPI, ultra HD picture quality, an ultra-high refresh rate of 90Hz, ultra-low delay, and smooth game experience.

* Shuo Shi, the Founder and Chief Executive Officer of the Company, said, "WiMi HoloVR accelerates the process of image color management, connectable devices, and wearing experience, which builds a solid foundation in the expansion of the Metaverse scene. With the popularization of Metaverse and technological breakthroughs, people's demand for AR and VR products will continue to grow. WIMI's holographic XR(AR/VR/MR) head-mounted display product, likeWiMi Hologram SoftLight, and WiMi HoloPluse LiDAR, has been licensed and approved by the Federal Communications Administration (FCC) to enter the US market."

* Related Content: Microsoft, Samsung Collaborate Over AR HoloLens Project

* Price Action: WIMI shares traded higher by 5.83% at $3.63 on the last check Wednesday.