Someone Is Going To Get Rich Selling Cameras For Virtual Reality. But who?

By David Pierson
Los Angeles Times

WWR Article Summary (tl;dr) Han Jin, the co-founder of Lucid VR is one of a slew of players, both large and small, who are scrambling to establish themselves in the burgeoning market for virtual reality-enabled cameras. The opportunity before them is potentially huge — especially with the field wide open. Deloitte Global predicts the virtual reality industry will crack $1 billion for the first time this year.

Los Angeles Times

If virtual reality lives up to its hype, someone is destined to get rich from building the medium’s first mass-market camera.

Han Jin asks, why not him?

The co-founder and chief executive of Lucid VR thinks he’s made a device small and cheap enough to appeal to anyone. His LucidCam fits in your hand like a bar of soap and is available for pre-order at $399.

His prototype, cobbled together inside a one-car garage that would hit triple digits during the summer, was novel enough to win Jin $115,000 in crowdfunding last year. Add to that $2.4 million in venture capital funding, and the 28-year-old entrepreneur has reason to feel bullish about the prospects of his Santa Clara company.

“There are plenty of start-ups, and I’m sure tons and tons of similar products coming out soon,” Jin said. “But at the end of the day, we’ve created a very simple product that anyone can use. You don’t have to be tech-savvy.”

Lucid is one of a slew of players, both large and small, who are scrambling to establish themselves in the burgeoning market for VR-enabled cameras.

Among them are big-name brands like Samsung, Ricoh and Kodak, and newer entrants like Bublcam, 360fly and Vuze.

The opportunity before them is potentially huge — especially with the field wide open. Deloitte Global predicts the VR industry will crack $1 billion for the first time this year, $700 million of that coming from hardware such as headsets, cameras and computers. By 2020, the industry could top $30 billion, according to Digi-Capital.

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