D-BOX Technologies has revealed its first quarter results, announcing revenues of $7.7 million for the quarter ended 30th June 2016. This represents a 7% increase in comparison to revenues of $7.2 million for the quarter ended 30th June 2015. However, the more interesting part of the announcement comes in the detailing of a partnership with The Virtual Reality Company.
With the advent of modern virtual reality (VR) technology D-BOX aim to leverage their expertise in immersive motion and true-to-life simulation, actively developing new applications for VR and other key markets. This new and upcoming market will bring significant changes to the entertainment sub-markets (i.e. home and commercial theatres), in addition to obvious immediate applications for simulation and training. D-BOX has stated their intention to be part of the new trend as the size of the VR and augmented reality (AR) markets may soon reach billions of dollars according to numerous industry sources.
As revealed in the financial results press release, D-BOX Technologies will partner with The Virtual Reality Company to collaborate on ‘numerous upcoming projects’. The Virtual Reality Company is a Los Angeles based virtual reality (VR) content studio production company, and through this partnership, D-BOX will be ‘part of the movie-creating process’.
Commenting on the first quarter achievements, Mr. Claude Mc Master, President and Chief Executive Officer of D-BOX, declared: “Over and above these financial results, the latest quarter was characterized by the implementation of new strategic alliances and the concretization of our presence in China. Furthermore, considering our strong financial situation, we are in an excellent position to accelerate penetration of our main markets and pursue our growth. [sic]”
The first product to be released in the partnership between D-BOX and The Virtual Reality Company will be The Martian: VR Experience, which VRFocus confirmed for consumer release earlier this year. No further details on D-BOX’s partnership with The Virtual Reality Company nor the company’s own internal VR applications are currently available. VRFocus will of course keep you updated with any further announcements on either of these projects.