The global VR market is expected to grow from a predicted 2.5 million devices by the end of this year to 24 million by 2018.
Retrak is ‘uniquely placed’ in the VR market after claiming to be the first accessories manufacturer to stock VR headsets in WHSmith.
The Texas-headquartered company made its debut in the UK in 2011 and specialises in headphones, power banks and charging cables.
Retrak entered VR in August after launching its ‘Utopia 360’ headset. Retailing at £19.99, the device can be connected to any smartphone and offers users a full 360-degree experience.
It became available across 10 WHSmith stores within UK airports last November, including Heathrow. It is the latest product to be stocked by the franchise since the pair first partnered seven years ago. The launch was followed by a new UK relationship created with retail giant Selfridges in November.
According to the latest forecast from analyst CCS Insight, the global VR market is expected to grow from a predicted 2.5 million devices by the end of this year to 24 million by 2018.
The company expects more affordable entries to drive the growth. The company currently has a presence across North America, the UK and Western Europe and had sold over a million Utopia 360 headsets in Q4 last year.
Retrak head of EMEA Zoe Langman said: “The products have experienced huge success since we launched them. We are the only company to have virtual reality headsets in WHSmith, so that’s been a great contributor.
“Indeed, there are similar products on the market, but none of which offer the same kind of value. You look at products from the likes of HTC or Oculus Rift and you have to buy a lot of extra hardware for them.
“They can end up costing the consumer upwards of £2,000. Our product is just as good quality at £19.99, which offers a huge price difference.”