By John Glenday

Despite the hoopla surrounding the much-hyped launch of the sell-out Oculus Rift Facebook has conceded that may have to wait a while yet to see any return on its $2bn investment, after the firm admitted virtual reality will make no appreciable impact on revenues this year.

In a statement to analysts Facebook CFO David Wehner remarked: “VR will not have a material impact on revenue in 2016.”

Facebook founder Mark Zuckerberg isn’t too perturbed by an absence of immediate payback however, affirming that he had always viewed VR as a long-term bet, with big profits perhaps still some years off.

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Source: The Drum