Facebook to Pay $500m for Unlawfully using a Virtual Reality Technology
February 2 , 2017
As per reports, California based social networking service Facebook has been ordered to pay $500m for illegally using a firm's virtual reality technology.
It has been found by the jury that Facebook had bought Oculus in 2014 and used video game developer Zenimax's computer code to launch its own VR headset.
Oculus said it is ready to appeal against the ruling.
The net profit of this social networking service doubled to $3.6bn in the fourth quarter and it was on the verge of hitting two billion users in the first half of 2017.