According to reports, Pico has decided to cancel its quest competitor and instead focus on challenging Apple Vision Pro. - Road to VR
Pico Reportedly Cancels Quest Competitor to Instead Take on Apple Vision Pro
According to a report from The Information, Pico Interactive, a subsidiary of ByteDance, is canceling the release of its next consumer-focused standalone VR headset, called Pico 5. The move is seen as a response to poor sales of its previous headset, Pico 4, which was intended to compete with Meta Quest 2. Instead, Pico is now positioning its next device to compete with Apple's high-end Vision Pro mixed reality headset. The project, codenamed Swan, will feature "cutting-edge technologies" but details and release date are unknown. This decision follows recent layoffs at Pico and a restructuring towards focusing more on hardware and core technologies. It remains to be seen if Pico will be able to compete with Meta, especially considering the popularity and affordability of the Quest series. Pico 4 was released in late 2022 in Europe and Asia but hasn't officially launched in the US as planned. For more details, visit the source at Road to VR.
Source: https://www.roadtovr.com/bytedance-cancels-pico-5-report/