Meta Platforms Inc (META.O) has reduced the price of its virtual reality headsets in an effort to increase demand for its VR hardware, as its risky wagers on the metaverse have failed to have a significant impact. Read in this metaverse news to know how much each of the metaverse’s headsets has been decreased.
Its flagship Meta Quest Pro will cost $999, down from $1,499 at launch, while the Quest 2 256 GB version will cost $429, CEO Mark Zuckerberg announced in an Instagram video on Friday.
Reduced Quest 2 sales were mentioned as the reason for a 17% fall in fourth-quarter revenue at the company’s subsidiary Reality Laboratories, which comprises VR-related products.
The division lost $13.7 billion in 2016 and is projected to lose over $10 billion by 2021.
Investors criticize Meta for investing in the metaverse without achieving the desired results.
The company debuted Quest Pro late in 2017 and marketed it as their most advanced VR headset with the capacity to broaden use cases.
Quest Pro was created for designers, architects, and other creative professions, with outward-facing cameras that capture 3D livestreams of the physical surroundings and innovative features such as the ability to hang virtual artwork on a real-world wall.
Recently, Meta has softened its attitude on the metaverse and is concentrating on cost-cutting strategies. The firm has designated 2023 the “Year of Efficiency” and expects to reduce its spending by billions of dollars this year.
While VR headsets have recently acquired more sophisticated features, acceptance has been modest outside of the gaming industry.
Last month, Tencent, the world’s largest video game publisher, abandoned ambitions to enter the virtual reality (VR) market. Nonetheless, the company is in discussions to promote Meta Quest products in China.
Content Source: reuters.com
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