“But I think it’s easy to say one thing, the Chinese market is at around 400 million to 500 million smartphones sold every year. Every single one of these phones, in theory, is VR-capable, so our thinking is VR could actually become mass market in China, faster than any other market in the world.”
Boldfaced emphasis added by me.
Bullshit Alert: Most of those phones are still 1920 x 1080, which isn’t a good VR experience.
As for Xiaomi and Android Daydream VR? Not until 2017.