Aug 15, 2023 06:27 PM

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Tech Insider: IQiyi VR Unit Not Paying Staff, Huawei’s Sanction-Defying Sales

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Consumers try out devices at a Huawei store in Shanghai’s Jing’an district on Aug. 7. Photo: VCG

Consumers try out devices at a Huawei store in Shanghai’s Jing’an district on Aug. 7. Photo: VCG

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

IQiyi VR unit’s staff pays the price as metaverse hype fades

IQiyi Smart, the virtual reality (VR) equipment arm of streaming platform iQiyi Inc., has been delaying salary payments and laying off employees, sources told Caixin, as the startup struggles financially in a sector that has yet to see mainstream adoption.

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