Meta Planning To Drop $1,000 Smart Glasses With Hand Gesture Control As It Takes On Apple: Report
Meta Platforms, Inc. (NASDAQ:META) is reportedly gearing up to release an over $1,000 version of its smart glasses to further challenge Apple Inc.'s (NASDAQ:AAPL) AR ambitions.
What Happened: The new version of Meta's smart glasses will come with a built-in screen, hand-gesture controls, and a price tag ranging from $1,000 to $1,400, reported Bloomberg, citing sources familiar with the matter.
The device, code-named Hypernova, could feature a monocular display in the lower-right quadrant of the right lens.
They are expected to offer an immersive AR experience that goes beyond the company's current Ray-Ban Meta Glasses, which start at $299. Last year, it was reported that Meta's Ray-Ban smart glasses have become the best-selling item in 60% of Ray-Ban stores across Europe, the Middle East, and Africa (EMEA).
Why It Matters: Previously, it was reported that Apple might be considering a new lightweight glasses design following the lukewarm response to its first-generation mixed reality headset, Vision Pro.
Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) subsidiary Google is also reportedly in the final stages of negotiations to acquire AdHawk Microsystems Inc. as part of its renewed focus on headsets and smart glasses.
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The steep price hike for Meta's new model Hypernova is primarily due to the screen, the report noted.
While giving his review of Vision Pro in February 2024, Meta CEO Mark Zuckerberg admitted that Apple's headset offers a higher screen resolution than Quest. However, he also expressed surprise at the compromises made in device quality, comfort, and ergonomics to achieve it.
Price Action: Meta stock closed 1.67% higher at $586 on Tuesday. However, year-to-date, the company’s shares have dropped 2.21%, according to Benzinga Pro.
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