Meta anticipates that losses in the AR/VR sector will rise in the coming year because of continuous product development efforts. - UploadVR
Meta Expects AR/VR Losses To Increase Next Year Due To 'Ongoing Product Development'
Meta, the parent company of Facebook, expects increased losses in its Reality Labs division in 2024. Reality Labs is responsible for products such as Quest headsets, smart glasses, Meta Avatars, Horizon, and research and development for AR glasses and neural wristband input devices. In the third quarter, Reality Labs reported $210 million in revenue, but incurred costs of $3.95 billion, resulting in a $3.7 billion loss. This loss is primarily due to ongoing investments and product development efforts, particularly in AR glasses. Meta's CFO anticipates further losses in 2024 as the company continues to scale its ecosystem and develop new products, such as a more affordable VR headset and a collaboration with LG on a Quest Pro 2 by 2025. The company's investments also include funding game development and acquiring studios to support its Horizon platform. For the full story, please visit the source.
Source: https://www.uploadvr.com/meta-expects-reality-labs-losses-increase-2024/