Meta reveals new virtual reality device ahead of Apple headset launch

Facebook’s parent company has unveiled its latest virtual reality device, signaling its continued commitment to building an avatar-filled “metaverse” seeking attention ahead of rival Apple’s anticipated headset launch next week.

In a video posted to his Instagram account on Thursday, Meta CEO Mark Zuckerberg teased the new Quest 3 product, which will go on sale in the autumn. It features both virtual and augmented reality technologies—known as “mixed reality”—allowing users to interact in a fully digital environment, as well as graphics in the real world.

Zuckerberg calls it Meta’s “most powerful headset ever,” with 40 percent slimmer hardware and twice the graphics performance.

The Meta’s reveal represents an effort to offer consumers an affordable device ahead of Apple unveiling its latest product next Monday at the iPhone maker’s annual developer conference.

While Apple’s headset is expected to cost around $3,000, the Quest 3 will be sold for $499. The Quest 2 model will be reduced in price by $100 to $299.

Leo Gaby, an analyst at tech consultancy CCS Insight, said, “speculation about Apple’s expected entry into the VR market (is) dominating tech discourse, and Meta is clearly here to remind everyone about its credentials in the space.” looking forward to.” “(Meta) will be keen to stamp its authority in the face of new competition.”

The latest iteration of its Quest headset reinforces the company’s desire to take the lead on the so-called metaverse — the virtual world where users interact with each other online.

But Meta has also sought to address shareholder frustration over the more than $10bn it has to spend to develop its metaverse ambitions. It triggered widespread lay-offs as part of a cost-cutting campaign that Zuckerberg described as his “year of efficiency”.

Meta’s share price jumped 2 per cent in early trade.

The tech conglomerate sells about 80 percent of all VR and AR headsets, but the market is relatively small compared to smartphones, PCs or game consoles, with fewer than 9 million units sold last year, according to IDC.

The company’s Reality Labs unit, which includes headset sales, accounted for just under 2 per cent of Meta’s total revenue of $117bn last year.

Meta’s new device is lighter, with better resolution and performance, powered by a new Qualcomm computer chip dedicated to mixed reality. Apple is expected to use its own custom chips to power the device.

Quest 3 will offer improved “pass-through” features – the ability to switch between the real world and virtual space, seamlessly and in color, while wearing a headset. Quest 2 only features blurred footage of the real world in black and white.

However, the Quest 3 doesn’t appear to have the ability to track eye movement, a feature that’s in Sony’s latest VR headset, which adjusts the screen based on where the player is looking.

Meta has been exploring ways to build on its augmented reality experiences, including a multi-year agreement with start-up Magic Leap.

Additional reporting by Tim Bradshaw