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Bytedance is now rejecting the rumors that have come to the web arena, stating that PICO's business may be closed. The Chinese giant dismissed the rumours, stating that PICO is still operating as usual and that Bytedance is committed to continuing to invest in the augmented reality business.
PICO was previously taken over by Bytedance in 2022. PICO itself is quite active in expanding PICO's business and product offerings, including in Malaysia.
It is said that PICO is currently failing to achieve the target set by Bytedance in terms of sales and user numbers. This at once made PICO reduce their workforce at the beginning of 2023.
However, with Apple entering the augmented reality market next year, it may be that the market will move actively again while also giving a positive effect to PICO.
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BUSINESS & MONEY