https://www.businesswire.com/news/home/20180524006512/en/

SHENZHEN, China--(BUSINESS WIRE)--May 25, 2018--Seagate Technology plc (NASDAQ: STX), a world leader in data storage solutions, and HTC VIVE, an innovation world leader in the field of smart mobile devices and virtual reality (VR), have jointly launched the Seagate Ⓡ VR Power Drive at the 2018 HTC New Ecosystem Conference in Shenzhen, China, helping VR device users expand their storage capacity and battery life.

Virtual reality is developing with great speed and momentum in China, and VR applications are emerging one after another in the fields of entertainment, education and healthcare, etc. According to a report jointly released by iResearch and Greenlight Insights, China will become a main VR market globally. In 2016, the VR market in China reached RMB 3.46 billion (about US$550 million). With high growth rate, the VR market in China is estimated to exceed RMB 10 billion (about US$1.6 billion) in 2018. In the next five years, the compound annual growth rate (CAGR) of the VR market could exceed 80 percent. Moreover, by 2021, China is forecast to become the largest VR market in the world, and the whole scale of the industry could reach RMB 79.02 billion (about US$12.64 billion), with the VR headset device market forecast to be RMB 29.75 billion (about US$4.76 billion). With the overall market for VR hardware expanding, the market of content, including VR games, VR films and television, as well as live streaming, are also growing rapidly, bringing a more comprehensive entertainment experience to users.*