Virtual Reality: a goldmine in the making

According to Microsoft, the Xbox Scorpio is able to perform a trillion floating-point operations per second, which means players would be able to enjoy higher screen resolutions and better gaming performance while playing VR games.

"For the past two years, we have seen ups and downs in the virtual reality and augmented reality industries in China," said Xie Enwei, general manager of Microsoft China.

"Presently, the VR industry has confronted the bottleneck in development created by factors such as expensive VR devices and lack of technological breakthroughs. What we are doing now is working with original equipment manufacturers and VR research studios to introduce more affordable devices and better quality games to consumers," he added.

Wu Tianqi, vice president of Suzhou Snail Digital Technology, agreed with this assessment, saying that the company is also considering whether to make further investments in the development of devices and games.

At this year's China Joy, Suzhou Snail Digital Technology released Ark Park, which is based on Ark: Survival Evolved, a highly popular game that has about 8 million players worldwide, to test the waters in the VR games sector.