During Meta Platforms Inc.’s META second-quarter earnings call, Mark Zuckerberg said that Quest 3 would become the first mainstream accessible device bridging the gap between the physical and virtual worlds, despite others in the industry like Apple Inc.’s AAPL launching their products in the market.
What Happened: During the earnings call, Zuckerberg said that the next big thing on Meta’s Reality Labs side, the Quest 3, would change how we interact with the physical and virtual worlds.
He outlined the headset’s features, saying it will boast better displays, improved resolution, and a cutting-edge next-gen Qualcomm chipset that will deliver twice the graphics performance compared to its predecessor, Quest 2.
Quest 3 will also have an extensive and immersive content library, enhancing the user experience.
While acknowledging that other companies are also working on mixed reality products, Zuckerberg boldly asserted that the Meta Quest 3 would be the first mainstream accessible device of its kind.
“Quest 3 is going to be the first mainstream accessible device that we expect many millions of people will get to experience this technology with,” he said.
During the same earnings call, Susan Li, the CFO of Meta, provided financial insights on the company’s Reality Labs segment. She disclosed that the second quarter revenue for Reality Labs was $276 million, which experienced a decline of 39% primarily due to lower Quest 2 sales.
Why It’s Important: Last month, Zuckerberg credited Apple for bringing a level of validation to the mixed reality category. He recognized the impact of Apple’s entry into the market, saying it would increase overall demand for mixed reality devices.
However, he maintained that Quest 3 would likely be the primary beneficiary of this trend.
While the Apple Vision Pro headset comes with a hefty price tag of $3,499, Zuckerberg stressed that affordability is crucial for widespread adoption.
The Quest 3, with its powerful features and more accessible pricing of $499.99, is scheduled for an autumn release, with further details to be unveiled at Meta’s annual AR/VR conference on Sept. 27.
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