Meta hopes vision pro can revitalize XR device market

Posted under: Extended Reality
Date: 2024-02-05
Meta hopes vision pro can revitalize XR device market

Apple is set to officially launch its brand-new Mixed Reality (MR) headset, Vision Pro, on February 2. The general market perception is that, despite its high sale price of US$3,499, appealing to target a smaller niche market, it will still threaten competing products such as Meta Platform's Quest and Sony PSVR 2. However, for Meta, the hope is that the addition of Vision Pro can revitalize the overall extended reality (XR) market. This is due to the overall market's decline over the past year, and consumer adoption rates remain low. According to a report from The Wall Street Journal (WSJ), Meta announced in 2021 that it is fully committed to the metaverse vision. It even went as far as changing its company name, believing that an immersive virtual world would be the future trend in digitization. However, three years have passed, and the revenue contribution of its dedicated unit, Reality Labs, remains less than 1%.

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