After announcing that its technology was accepted in the US market, the Chinese developer of new visualization technologies, WiMi Hologram Cloud Inc. (WIMI), received a positive boost.
Using WiMi Hologram Soft Light technology, regulators have allowed products and services to be sold on the markets in the United States. This is the technology of augmented reality (AR) used by Alibaba founder Jack Ma at the presentation, which drew attention of the WiMi to develop the technology.
Wimi Hologram Soft Light AR glasses, which were developed in partnership with the Japanese company Sony, have been accredited by the Federal Communications Commission (FCC).
WiMi also provides virtual and augmented reality content transmission facilities, including for use in TV news, cinemas, presentations, vehicles, concerts, etc. This is the key part of WiMi’s business as last year, 84% of the company’s revenue came from the selling of advertising solutions.
The outlook for WiMi remains unclear. The company aims to introduce WiMi Glasses AR by the end of 2020, focusing on the issue of minimizing fatigue with the extended use of glasses, a well-known VR and AR problem that is likely to be solved only with the advent of ultra-compact and light projecting systems.
A positive aspect is the attempt by WiMi to build an Autonomous Cinema and Virtual Entertainment Centre ecosystem. It will let users access any content, including 2D, and as visualization technologies advance, the hardware will receive updates.
For investors, Wimi stock might be a bit riskier, but price surges at times of significant events can came up with an opportunity for them to get profit.
WiMi Hologram Cloud Inc. (WIMI) stock was down 3.79% to $5.84 at the December 2 trading. The stock shunned 3.15 percent over the past week, but has gained 72.27 percent over the past six months. Year to date, company added more than 6 percent and its market capitalization currently stands at $385 million.