(Yicai Global) Feb. 23 -- Chinese internet and gaming giant Tencent Holdings is reportedly considering selling Meta’s Quest virtual reality products in China.

Tencent has been planning to become an agent for the Quest product series in China since last year, but the company’s senior executives have not yet agreed on whether to work with Meta, The Paper reported yesterday, citing a source close to the Shenzhen-based firm.

Meta’s Quest 2 sells from USD399.99 on its official website.

A recent online rumor said Tencent had disbanded its extended reality department. The tech firm told Yicai Global that its XR business will change its development path and adjustments will be made accordingly. Tencent has not given up exploring the business but will consider other directions, an insider said.

Internet companies have been making strategic retreats from the metaverse field. Industry leader Meta announced in November that it was laying off more than 11,000 employees, equal to about 13 percent of its total workforce.

Pico also made layoffs, but the ratio was not high, the person in charge of ByteDance’s VR business said to Yicai Global earlier this month.

Editor: Futura Costaglione