Revealed: February 26, 2024 6:30 AM Up to date: February 26, 2024 10:21 AM
Edited and fact-checked: February 26, 2024 6:30am
Put merely
Meta and LG plan to launch the Quest Professional 2 within the first half of 2025, with particulars of the VR headset collaboration anticipated to be finalized this week.
Expertise conglomerate Meta's upcoming digital actuality (VR) headset Quest Professional 2 will probably be manufactured in collaboration with South Korea's LG Electronics and is anticipated to be introduced within the first half of 2025.
Particulars of the partnership are anticipated to be finalized in discussions between Meta CEO Mark Zuckerberg and LG Electronics CEO Jo Joo-wan scheduled for this week. Future conferences between the 2 firms will deal with figuring out which companies will probably be included within the Quest Professional 2 premium headset and creating an efficient gross sales technique.
Meta and LG are teaming as much as launch the XR headset, which goals to outperform an analogous product from a rival firm, Apple's Imaginative and prescient Professional.
LG Electronics will leverage in depth {hardware} expertise accrued over a few years, and Meta will present experience accrued in AI and Metaverse companies. Important synergies are anticipated from the fusion of those two firms, every excelling in numerous areas: software program (Meta) and {hardware} (LG).
Meta is commonly perceived within the business as having a {hardware} weak spot. Regardless of being expert at product design and planning, the corporate lacks direct manufacturing capabilities. “MetaQuest 3,'' launched in October final yr, was criticized for being perceived as “heavy,'' inflicting dizziness, and missing non-game content material.
This is the reason Meta selected LG as a collaborator. On the identical time, LG was devising numerous methods to grab alternatives within the increasing Metaverse market. The anticipated division of obligations between the 2 entities is that LG will probably be chargeable for the {hardware} space and Meta will probably be chargeable for the software program inside a broader framework. Moreover, LG's WebOS is more likely to be adopted because the working system (OS), which is called the mind of good units.
Meta has been persistently introducing VR and AR (Augmented Actuality) headsets over the previous decade. With the acquisition of VR headset developer Oculus in 2014, Meta was in a position to management roughly 70% of the worldwide market by 2022 with constant product launches.
However since final yr, market share has declined to about 40% as a result of rise of inexpensive Chinese language merchandise and the entry of rivals comparable to Japanese expertise firm Sony. Not too long ago, Apple's XR headset “Imaginative and prescient Professional” bought greater than 200,000 models on the 2nd, so Meta's market share is anticipated to say no additional.
The business is envisioning augmented actuality (XR) expertise to increase its makes use of past on a regular basis life and discover purposes in industrial sectors comparable to development, drugs, and firefighting. Market analysis agency IDC predicts that the XR machine market will expertise vital progress, doubling from $18.2 billion this yr to $35.7 billion by 2026.
With Meta and LG working collectively on Quest Professional 2 and addressing {hardware} challenges, Meta is anticipated to strengthen its place within the evolving and aggressive XR surroundings.
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Concerning the writer
Alisa is a reporter for the Metaverse Publish. She focuses on all the things associated to investing, AI, Metaverse, and her Web3. Alisa has a level in artwork enterprise and experience in artwork and expertise. She developed her ardour for journalism by way of writing for enterprise capital, notable crypto initiatives, and scientific papers. You possibly can contact her at (electronic mail protected).
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Alisa Davidson
Alisa is a reporter for the Metaverse Publish. She focuses on all the things associated to investing, AI, Metaverse, and her Web3. Alisa has a level in artwork enterprise and experience in artwork and expertise. She developed her ardour for journalism by way of writing for enterprise capital, notable crypto initiatives, and scientific papers. You possibly can contact her at (electronic mail protected).
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