Augmented reality is gaining popularity again with the launch of the Vision Pro by Steve Jobs’ company. Meta, Mark Zuckerberg’s firm, has also been a strong advocate for this technology for years. Despite the risky commitment to augmented reality and the billions of dollars spent, Meta Labs, the virtual reality division, had its best quarter in history. The company saw $1 billion in revenue during the fourth quarter of 2023, thanks in part to the launch of the Meta Quest 3 and the Ray-Ban Meta. However, the joy was overshadowed by losses amounting to $4.65 billion.
Meta’s virtual reality division suffered a loss of $4.26 billion during the last quarter, surpassing predictions. The total losses for Meta since 2020 amount to a staggering $42 billion. Despite this, Susan Li, the Financial Director of Meta, is not overly concerned, stating that the company expects losses to increase significantly year after year.
The commitment to virtual reality has come at a high cost for Meta, with losses totaling $16 billion in 2023 alone. However, the recent launch of Apple’s Vision Pro has brought hope, with the glasses capturing the public’s attention and raising expectations for their acceptance by companies like Meta and Samsung.
In the midst of these developments, a YouTube post from Meta shows the company’s continued commitment to virtual reality.
“Excited for the potential of Apple’s Vision Pro. As a long-time advocate for augmented reality, I’m eager to see how this technology progresses. #AR #VisionPro”
[Image of Apple’s Vision Pro]
“Just got my hands on the new Vision Pro! Can’t wait to explore all the possibilities of augmented reality with this device. #AR #Tech”