Monster Digital, Inc., which develops, markets and distributes Monster branded products for use in high-performance consumer electronics, mobile products and computing applications, is reaffirming its commitment to virtual reality.
On Wednesday, the company reiterated its action camera and Virtual Reality strategy with a goal of becoming what it calls a “global leader” in the space.
According to industry experts, the action camera market is expected to reach sales of $6 billion by 20201 a prediction MSDI believes is overly optimistic given recent trends in the industry including its own.
However, today’s announcement explains, the VR market is estimated to grow to $30 billion by that same time.
To address this market opportunity, MSDI is advancing its single and dual lens 360 VR action cameras as well as their VR goggles, which allow a user to enjoy a seamless, high quality VR experience.
“We have aligned our product and marketing focus on delivering on our objectives: drive growth, reach profitability and generate cash flows as we bring to market new high margin, Monster Digital branded, premium products at competitive prices,” says David H. Clarke, Monster’s Chief Executive Officer.