Meta, formerly known as Facebook, has unveiled its latest virtual reality headset, the Meta Quest 3, in an Instagram post by CEO Mark Zuckerberg. This announcement comes just days before Apple’s highly anticipated entry into the virtual reality industry. The Meta Quest 3 promises improved display quality, resolution, and design compared to its predecessor, offering a compelling option for VR enthusiasts.
Meta Quest 3 Features and Availability
According to Zuckerberg’s Instagram post, the Meta Quest 3 will be priced at $499 and is expected to be available in the fall. Additional details about the headset will be revealed at a Meta conference scheduled for September 27. The new device boasts higher-resolution images, a sleeker and lighter build compared to Meta’s previous VR headsets, and appears to feature three front-facing cameras. These cameras are expected to enhance the mixed-reality experience, enabling users to seamlessly blend the real world with the virtual environment.
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Apple’s Foray into Virtual Reality
Apple had previously announced plans to introduce its first mixed-reality headset at the Worldwide Developers Conference on June 5. The Apple headset, known as Reality Pro, is anticipated to have a price tag of approximately $3,000, as reported by Bloomberg. It will run on the xrOS operating system, derived from iOS, enabling the use of iPad apps and furthering Apple’s objective of seamless app integration across its product lineup. Oppo, a Chinese company, also recently launched a mixed-reality headset targeting developers.
Meta’s Focus on Virtual Reality
Meta’s shift in focus toward virtual reality is evident with its name change in 2021. Formerly Facebook, the company aims to build the metaverse—a virtual extension of the physical world that relies on virtual reality and social media. Meta made its initial foray into virtual reality in 2014 with the acquisition of Oculus for $2 billion. The first Oculus VR headset was released in 2016, followed by the Quest 2 in 2022, which saw a price increase to $399 due to manufacturing and shipping costs.
Also, Read: What Are Augmented Reality Glasses? Why Everyone Should Know About Nreal AR Glasses
Market Dominance and Challenges
As of March, Meta has sold approximately 20 million Quest headsets, including Quest 1, Quest 2, and Quest Pro, according to The Verge. Quest 2 has been the most popular among consumers. However, Meta’s virtual reality division, Reality Labs, reported operating losses of $13.7 billion in 2022, surpassing the $10.2 billion loss in 2021. This decline in profitability can be attributed, in part, to a decrease in consumer interest as global shipments of VR headsets fell by 20% in 2022 compared to the previous year, as reported by the International Data Corporation. Nevertheless, Meta remains a dominant player in the industry, accounting for 80% of all virtual reality headset sales in 2022, according to IDC.
Source: forbes.com
