Chinese smartphone manufacturer Huawei seems to know the importance of "camera functionality" in today smartphone business. This is probably why Huawei has unveiled the Honor VR Camera, a 360-degree camera add-on device, developed in collaboration with Insta360.

Huawei's Honor VR Camera offers all the must-have modern functionalities, according to Insta360, which claims that it supports "3K photography" and seamless "live-streaming" and will also enable users to save and share their 360-degree videos through a special app.

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However, both companies have not revealed any details about the pricing and the release date yet. The press release only said that Huawei intends to release the Honor VR Camera in the international market pretty soon, which is an indication that it may launch the device outside China.

Hopefully, the Chinese smartphone manufacturer will shed some light on this smartphone add-on device at the upcoming Mobile World Congress (MWC) in Barcelona. 

Industry experts will waste hardly any time in comparing the Honor VR Camera and Insta360's other products, namely the Insta 360 Nano.  The Insta 360 Nano is used as an add-on device for iPhone 6 and 7. It can to record 360-degree videos up to 3040 x 1520 resolutions at 30 frames per second.

Insta360 also recently lifted the veil on another product, the Insta360 Pro, aimed purely at the professional photographers. It will hit the market later this year but will be priced at $2,999.

Huawei's launch of the Honor VR Camera also comes on the back of the recent launch of the Honor V9 phone. This newly launched smartphone offers 5.7 QHD display and a massive 4000mAh battery.