Facebook (FB) Plans to Produce Virtual-Reality Apps

Facebook (Nasdaq: FB) affirmed that it would be woking to develop content for a virtual reality headset.

According to Re/code, Facebook Chief Product Officer Chris Cox affirmed the initiative at Code/Media conference in California on Tuesday.

Cox didn't divulge too many secrets of how Facebook will develop VR apps and said that the concept wouldn't become reality for a while.

News comes just about one year after Facebook announced that it would acquire virtual reality headset manufacturer Oculus in a deal valued at $2 billion.

Shares of Facebook are flat Wednesday morning.

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