Goertek, a precision component and wearable-devices solutions provider in the Weifang Hi-tech Industrial Development Zone, has made great achievements in its industrial upgrade and transformation processes.

The company - which is listed on the Shenzhen Stock Exchange - released an ultra-small air pressure sensor on July 10. The sensor can provide lower energy consumption and higher precision solutions for products including smartphones, wearable devices and drones. Goertek said the company sold nearly 1 billion units of the sensor in 2016.

"Goertek is now a leader in virtual reality and augmented reality industry," said Jiang Bin, chairman of the board of directors at the company.

Jiang added Goertek has made breakthroughs in quite a few emerging technology fields. It is one of the top VR headset suppliers in the world in term of sales volume.

With support from Weifang, where the company's headquarters is located, Goertek plans to construct a Goertek VR Industrial Park, in an effort to promote the VR industrial chain in the region.