Facebook (FB) Trims Oculus Rift Price For The Second Time
Zacks Investment Research | Jul 10, 2017 09:45PM ET
Facebook Inc. (NASDAQ:FB) has once again slashed the price of Oculus Rift but the offer is limited to the summer season. The Rift headset, along with a pair of Touch controllers, will be bundled for $399 for summer.
In March, Facebook had first slashed the price of the headset to $499 from $599 originally. Price of Touch controllers was trimmed to $100 from the original $200.
Oculus was founded by Palmer Luckey and Brendan Iribe in 2012 and acquired by Facebook in 2014. Facebook’s ambitious AR/VR plans are being fueled by Oculus. The company’s CEO, Mark Zuckerberg, said that Facebook will spend over $3 billion over the next 10 years.
However, in February, Zuckerberg was quoted saying that the virtual reality efforts aren’t profitable now. However, he asked the investor community to be patient as the investments in VR would take some time to generate profits.
For some time now, Oculus has been weighed down by numerous problems. Rift, despite being one of the most anticipated products, polarized critics and general masses. Its hefty price tag was a dampener. In addition, the expensive $599 headset (with Touch controllers for another $200) requires a powerful $1000 PC to operate.
This makes the device affordable to only a handful of customers and is primarily targeted toward hardcore gamers. To change that and bring more consumers under its fold, Facebook is rethinking its pricing strategy, taking a leaf from Sony’s (NYSE:SNE) success story.
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