Xiaomi Corporation from China, the developer, manufacturer, and distributor of communication parts and equipment has lost one of their top executives. Hugo Barra, who has worked in Google before has decided to join Facebook (NASDAQ:FB) to lead their virtual reality business. Mark Zuckerberg, the 32- year-old founder and chief executive revealed that Hugo will also lead their Oculus unit and all their virtual reality efforts.
Zuckerberg and Facebook Very Keen On Virtual Reality
Zuckerberg values virtual reality very highly and has already stated that it would be an important part of the future business of Facebook. They are trying to improve the technology, find out new ways to implement it, and also reduce the costs. Facebook took over Oculus in 2014 to achieve these goals, believing that it would be the next important computing platform.
With Hugo leading the division, who has been the most prominent executive of the Chinese smartphone maker, Facebook is now one step closer to achieving their goals.
Zuckerberg was thrilled with the decision. He said, “Hugo shares my belief that virtual and augmented reality will be the next major computing platform. They’ll enable us to experience completely new things”. He made a post on Facebook saying Hugo will be joining them soon as the Vice President of VR. “Hugo’s in China right now, so here we are together in VR. It seems fitting”. This comment from Zuckerberg spurred speculation that the interview might have been conducted over virtual reality.
Hugo Barra in Xiaomi
Hugo has been working as the Vice President of Xiaomi as well. He too issued a statement after the Zuckerberg comment saying he has been planning to return to Silicon Valley for some time. Hugo was apparently unhappy in China, as it kept him away from family and friends. He had earlier stated this was taking “a huge toll on my life and started affecting my health”. Hugo left Silicon Valley three years back when he joined the Chinese business from Google (NASDAQ:GOOGL).
While with Xiaomi, Hugo made the business expand into Singapore, Malaysia, Indonesia, and recently in 20 other markets including Poland, Mexico, and Russia. But their best successes have been in Myanmar and India, which is now Xiaomi’s largest international market. The company is earning revenue of more than $1 billion in India every year now.
Facebook’s (NASDAQ:FB) interest in Hugo is partly because of his exposure in China, which according to IDC, will account for 20 percent of worldwide virtual reality market soon.