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Printed: February 26, 2024 at 6:30 am Up to date: February 26, 2024 at 6:30 am
Edited and fact-checked:
February 26, 2024 at 6:30 am
In Transient
Meta and LG will launch Quest Professional 2 within the first half of 2025 with particulars of collaboration to be finalized throughout this week.
Upcoming digital actuality (VR) headset Quest Professional 2 from know-how conglomerate Meta, produced in collaboration with the South Korea’s LG Electronics, is about to be unveiled within the first half of 2025.
The main points of the collaboration are anticipated to be finalized throughout discussions scheduled for this week between Mark Zuckerberg, CEO of Meta and Jo Joo-wan, CEO of LG Electronics. A forthcoming assembly between the 2 firms will revolve round figuring out the companies to include into the Quest Professional 2 premium headset and devising an efficient gross sales technique.
Meta and LG’s collaboration to launch an XR headset goals to outperform the same product by rival firm – Apple’s ‘Imaginative and prescient Professional.’
LG Electronics will leverage its intensive {hardware} know-how accrued over time, whereas Meta will contribute its accrued experience in AI and the Metaverse enterprise. The convergence of those two firms, every excelling in numerous domains – software program (Meta) and {hardware} (LG), is predicted to generate substantial synergy.
Within the business, Meta is usually recognized as having a weak point in {hardware}. Regardless of proficiency in product design and planning, the corporate lacks direct manufacturing capabilities. The ‘Meta Quest 3,’ launched in October final yr, confronted criticism for being perceived as ‘heavy,’ inflicting dizziness, and missing content material past gaming.
That is the explanation Meta opted for LG as its collaborator. Concurrently, LG had been devising various methods to grab alternatives within the increasing metaverse market. The anticipated division of obligations between the 2 entities is projected as LG caring for the {hardware} realm and Meta caring for the software program throughout the broader framework. Furthermore, LG’s ‘WebOS’ is probably going for use because the working system (OS), known as the mind of sensible units.
Meta has constantly launched VR and AR (augmented actuality) headsets over the previous ten years. Buying the VR headset developer Oculus in 2014 allowed Meta to dominate roughly 70% of the worldwide market by 2022, pushed by constant product launches.
Nevertheless, beginning final yr, the market share dwindled to round 40% because of the rise of inexpensive Chinese language merchandise and the entry of rivals like Japanese know-how firm Sony. With the latest sale of over 200,000 models of Apple’s XR headset ‘Imaginative and prescient Professional‘ on the 2nd, it’s anticipated that Meta’s market share will decline additional.
The business envisions prolonged actuality (XR) know-how, extending its utility past day by day life, discovering functions in industrial sectors like building, medical care, and firefighting. Market analysis agency IDC tasks that the XR gadget market will witness substantial progress, doubling from $18.2 billion this yr to $35.7 billion by 2026.
As Meta and LG collaboratively work on Quest Professional 2, addressing {hardware} challenges, it’s anticipated that Meta will fortify its place within the evolving aggressive XR panorama.
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About The Writer
Alisa is a reporter for the Metaverse Put up. She focuses on investments, AI, metaverse, and every thing associated to Web3. Alisa has a level in Enterprise of Artwork and experience in Artwork & Tech. She has developed her ardour for journalism by way of writing for VCs, notable crypto tasks, and scientific writing. You’ll be able to contact her at [email protected]
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Alisa Davidson
Alisa is a reporter for the Metaverse Put up. She focuses on investments, AI, metaverse, and every thing associated to Web3. Alisa has a level in Enterprise of Artwork and experience in Artwork & Tech. She has developed her ardour for journalism by way of writing for VCs, notable crypto tasks, and scientific writing. You’ll be able to contact her at [email protected]
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