Virtual Reality
According To Meta, Their Next-Gen Quest VR Headset Will Be Relatively More Affordable
Meta’s new headset will be “at a price point that will be accessible for lots of people.”
In several previous stories, I have spoken about the Meta Quest, as well as other VR/AR headsets. These will be linked at the end of this post. In this post, I will speak about Meta’s upcoming Quest VR.
What is Meta?
Meta is a technology company that was previously known as Facebook, Inc. It was founded in 2004 by Mark Zuckerberg and has since evolved into a conglomerate that owns several popular social media platforms such as Facebook, Instagram, WhatsApp, and Oculus VR.
In late 2021, the company changed its name to Meta, signaling a new focus on developing virtual and augmented reality technologies.
Meta’s primary goal is to create a metaverse, which is a virtual universe that people can access through augmented and virtual reality. The company aims to create an immersive and interconnected digital world where people can interact, socialize, work, and play.
The metaverse is expected to be the next major evolution of the internet, and Meta wants to be at the forefront of this technological shift.
Meta has invested heavily in developing hardware, software, and content for virtual and augmented reality to achieve this goal. One of its most popular products is the Oculus VR headset, which provides users with a 360-degree virtual reality experience that mimics the real world.
Meta is also developing augmented reality glasses that enable users to access the digital world without being cut off from the physical world.
In addition to hardware, Meta is also investing in developing software and content for the metaverse. The company has a dedicated team of developers working on creating virtual and augmented reality applications, games, and experiences that can be accessed through its platforms.
Meta is also partnering with other companies to create a shared digital ecosystem enabling people to move seamlessly between different metaverse experiences.
Meta’s vision for the metaverse is not just a virtual space for entertainment and socializing but also a place where people can work, learn, and collaborate. The company believes that the metaverse will transform how we live, work, and interact with each other, and it wants to be a leader in this transformation.
Meta’s focus on the metaverse has drawn criticism from some who see it as a dystopian vision of a future where people are disconnected from reality.
Others have raised concerns about the company’s power and influence over the digital world. Despite these criticisms, Meta remains committed to its vision and is pushing ahead with its plans for the metaverse.
The Next-Gen Meta Quest VR Headset
Meta, formerly known as Facebook, has announced its plans to release its next-gen Quest headset later this year.
In a call to its shareholders, the company shared a few details on what the headset might look like when it arrives and how much it costs the company each month to develop its metaverse dream.
Meta’s CFO, Susan Li, spoke about the company’s plans for the follow-up to the hugely successful Quest 2. She explained that Meta is gearing up to launch its next-generation consumer virtual and mixed-reality device later this year.
She also noted that Quest 2 was a big step forward for VR three years ago and that the company has since developed new technology improvements that will be accessible for many people at an affordable price point.
However, there are concerns about the accessibility of the price tag for the next-gen Quest. The Quest 2 was initially priced at $299 for the 64GB model, making it accessible to many users. But, the price has increased by $100, and Meta has not indicated whether it will revert to the lower price tag.
The cost of developing the next-gen Quest is also a concern. Meta invests heavily in its Reality Labs division, which is responsible for all its VR, AR, and mixed-reality exploits.
In Q1 2023, the company spent around $4.3 billion dollars on Reality Labs and in return, made around $339 million, resulting in an operating loss of an enormous amount. The cost is so significant that Meta expects losses to increase year-over-year in 2023.
Meta’s losses in Reality Labs can be attributed to slower sales of the Quest 2, restructuring, and severance expenses.
Last year, the company laid off over 11,000 employees, including in Reality Labs, and recently announced another round of cuts affecting 10,000 people.
Although the company plans to hire back some employees in areas such as Reality Labs, it is unclear how this will affect the overall development cost.
Meta’s long-term focus is on efficiency, and the company intends to hire employees back to support priority areas like generative AI, ads, infrastructure, and Reality Labs.
Despite the losses in Reality Labs, Meta made over $7B in income over the past three months, slightly down from the same period a year before. However, this figure includes the $4B loss from Reality Labs.
In conclusion, Meta plans to release its next-gen Quest headset later this year, but the accessibility of the price tag is unclear.
The company invests heavily in its Reality Labs division, resulting in significant losses and restructuring, which may affect the development cost.
While Meta plans to focus on efficiency and hire employees back in priority areas, how this will impact the development cost for the next-gen Quest remains to be seen.
Final Words & Takeaways
Meta, formerly known as Facebook, plans to release its next-gen Quest VR headset later this year, aiming to improve the success of its previous iteration, the Quest 2.
However, the accessibility of the price tag is uncertain, as the Quest 2’s initial price of $299 has since increased by $100.
Additionally, Meta’s heavy investment in its Reality Labs division, responsible for its VR, AR, and mixed reality developments, has resulted in significant losses and restructuring, which may impact the development cost for the next-gen Quest.
Despite criticisms about the potential negative effects of the metaverse on society and concerns about Meta’s power and influence, the company remains committed to its vision of creating an immersive and interconnected digital world.
As Meta continues to focus on efficiency and prioritize hiring employees in specific areas, it remains to be seen how these developments will affect the cost of development for the next-gen Quest and the future of the metaverse.
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Here are a few of my previous posts relating to virtual reality headsets:
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