Facebook Has Dedicated About 20% Of Its Workforce To VR/AR Efforts: Report

Facebook Inc. FB has nearly 10,000 people working in its group developing augmented and virtual reality devices, according to a report by The Information (via the Verge).

What Happened: The headcount suggests that almost one-fifth of Facebook’s global workforce is working at the company’s Reality Labs division, as per the report, citing internal organizational data.

A report by UploadVR in 2017 had noted that Facebook’s Oculus VR division employed about 1,000 people at that time, when the social media giant’s total headcount was 18,770. The figures showed that just over 5% of Facebook’s total workforce was working in the VR division.

Intensified Focus: The report in The Information indicates how much Facebook has intensified its focus on the AR/VR segment over the past four years.

The company is also striving to reduce its dependence on Apple Inc. AAPL and Alphabet Inc. GOOG GOOGL unit Google, makers of the two dominant mobile operating systems, by building its own consumer hardware.

In a podcast hosted by The Information earlier this week, Facebook CEO Mark Zuckerberg took multiple subtle digs at Apple, seemingly criticizing the expected price and also the pass-through technology that the iPhone maker’s upcoming mixed reality headset might use. Apple’s AR and VR headset may be launched next year.

Also See: Why Facebook Is Not A Fan Of Apple's New Privacy Feature In iOS 14

Oculus Quest 2 VR Headset: Facebook launched its wireless VR headset – the Oculus Quest 2 in September last year. At $299, Quest 2 is priced $100 lower than its predecessor.

Morgan Stanley analyst Brian Nowak noted in January that Facebook’s $400 million in "other revenue" in its fourth-quarter earnings results showed an “early sign of budding success” within the company’s VR efforts.

Price Action: Facebook closed almost 3.4% higher on Thursday at $273.88.

Read Next: Why Facebook So Rattled By Apple's Privacy Changes? Former Employees Explain

Posted In: Augmented RealityMark ZuckerbergOculusvirtual realityNewsTechMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.