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LG, Samsung, Huawei build trove of metaverse patents: survey

South Korea, China contingent surge in race to develop hardware as Japan lags

Meta and Sony are among the companies vying to develop virtual reality headsets. (Sipa via AP)

TOKYO -- South Korean and Chinese companies are amassing patents for metaverse hardware, with LG Electronics and Huawei Technologies climbing the ranks as the electronics sector looks beyond the smartphone.

The global metaverse market is on track to reach $74.7 billion in 2026, a fivefold increase in five years, U.S. market research company IDC projects for the virtual and augmented reality fields. Specialized hardware, such as the 3D headset released last month by Facebook parent Meta, play a key role in accessing the virtual space.

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