New goals show global electronics giants' confidence in China

Overseas consumer electronics giants such as Samsung and Sony are betting on Chinese market's recovery and speeding up growth plans in China.

Samsung announced a partnership with Shanghai Disney Resort this month to open a pop-up store in the resort and create several micro-films for visitors and performers using Samsung smartphones.

Also, the phonemaker released Galaxy S23 in Shanghai, its latest flagship models with a 200-megapixel camera and localized services from Baidu and Meitu. It's also Samsung's first offline launch event in China since the pandemic.

Despite being the world's leading smartphone vendor, Samsung has a small domestic market share. It aspires to increase its market share in the world's largest mobile market.

Sony's PlayStation VR 2 was unveiled in China this week as the first batch of places for the global debut of the virtual reality device. It works with the PlayStation 5 console.

Sony will bring the latest products, game content, and services available to Chinese gamers as soon as possible. According to Sony Entertainment Interactive (Shanghai), they can experience the unique immersive charm of console gaming.

Virtual reality is a rapidly expanding market segment and a critical technology for the metaverse world.

According to research firm CCID, China's virtual reality market will reach 100 billion yuan (US$14.7 billion) in 2023, up from 58.4 billion yuan in 2021.

According to media reports, Meta, formerly known as Facebook, is in talks with Tencent to sell VR headsets in the Chinese market.