Has winter come to virtual reality in China? Among the 11 virtual reality companies listed on China’s NEEQ , only two companies – Mcvrar and Techtheme – recorded a profit. Joyspoon Animation managed to break even, but the remaining eight companies saw varying amounts of loss, according to Wind Info‘s data (source in Chinese).

More than the financial performance in VR, however, it’s the public’s interest in the new technology that is creating the market. Tech companies are aware that great ideas and creative work arise from hard work and visibility. That’s why Chinese tech companies are teaming up to create a VR film contest.

Chinese tech companies UCCVR, Jaunt China, Shanghai Media SMG, and Youku jointly launched 2017 Global Creator VR Video Competition (GCC VR Short Film Festival 2017) at a salon event in Shanghai on Friday, February 24, 2017. The competition is organized by UCCVR founder & CEO Allen Foo.

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Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com