The augmented reality firm Nreal is targeting an IPO within 5 years, says the CEO


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SHANGHAI-Nreal, a Chinese company that produces glasses for so-called augmented reality experiences, wants to go public within five years, its executive director told CNBC.

“We think this is a really big technology market and we’re looking forward to what’s going to happen in the next 10 to 15 years. Very exciting – I think it’s more like ’06, ’07. In the smartphone business,” Chi Xu said. is the CEO of Nreal.

“We see a lot of good opportunities and, definitely, we think the size of the market is going to be huge. We have this opportunity too and we want to bring this to an end.”

He said the first public offering could come in “less than 5 years”.

The company’s main product is a pair of light glasses called Nreal Light, which have been released in several markets, including South Korea and Japan. Nreal says its glasses allow users to experience a “mixed reality” where digital images are placed over the real world.

Nreal Light connects to a smartphone. One of the immediate uses frees people from being attached to small smartphone screens.

“Whatever you show on the cell phone screen in front of you, you put it in front of your face, in a massive screen, and it can be 3D, it can be ultra high definition,” Xu said.

Attendees try on a pair of Nreal mixed reality glasses at the MWC Shanghai exhibition in Shanghai, China, on Tuesday, February 23, 2021.

Qilai Shen | Bloomberg | Getty Images

Nreal’s ambitions run counter to technology giants who see a bright future in augmented reality. Apple CEO Tim Cook called AR is the “next big thing” and the iPhone is a giant allegedly working on headphones. Facebook,, Microsoft,, Google and other technology companies are investing in AR.

But the current headphones on the market are expensive and often bulky. Nreal hopes that its portable nature will appeal to consumers. The price varies depending on the market how it is distributed. For example, in Japan, headphones cost about $ 700. But in South Korea, the device can be purchased through a telecom operator’s plan that subsidizes the headphones at about $ 300.

Business model

Nreal has a platform for developers to create applications for the headset operating system called Nebula.

“It’s very similar to what Apple did for smartphones,” Xu said. “We offer a platform where people use it for different experiences and developers – they can apply them, develop different content in the field.”

Apple not only makes money from selling its iPhones and other hardware, but also generates commission income on its App Store.

Nreal has several significant supporters. Kuaishou, a short video platform in China and iQiyi, a video transmission service, among the investors are companies. Xu said Nreal will work with Kuaishou and iQiyi.

“As we mentioned, not only will we provide hardware. We want to connect different services with glasses. Take video for example, whether it’s long or short video. We think glasses are a much better terminal to experience video,” he said. Executive Director.

“So we’re going to work with these giants, really work on a new interface.”

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