Meta Unveils Quest 3 Mixed Reality Headset: Aiming to Rebound in the Reality Labs Market.
Declining Revenues Prompt New Product Launch
In an effort to recover from declining revenues in the Reality Labs segments, Meta founder and CEO Mark Zuckerberg unveiled the company’s highly anticipated next-generation mixed reality headset. The Quest 3, a cutting-edge colour mixed reality headset, is set to hit the market ahead of rival Apple’s planned launch of a VR/AR mixed reality headset during the Apple WWDC 2023.
Combining Augmented and Virtual Reality
The Quest 3 aims to revolutionise the immersive experience by seamlessly integrating augmented and virtual reality (AR/VR) elements. Meta’s upcoming headset is expected to be 40% thinner than its previous model, offering users a sleek and lightweight design. Priced at $499 (₹41,000), the Quest 3 promises an exceptional mixed reality experience at an affordable price point.
Enhanced Graphics Performance
Mark Zuckerberg shared that the upcoming Quest 3 will feature an upgraded Qualcomm chipset, delivering double the graphics performance compared to its predecessor. This upgrade ensures a more immersive and visually stunning experience for users. The Meta CEO announced that the release of the Quest 3 is scheduled for the autumn, with further details on specifications to be unveiled during the company’s annual AR/VR conference on September 27.
Sustaining Market Dominance
Meta’s unveiling of the Quest 3 is seen as a strategic move to maintain its stronghold in the competitive VR headset market. Market research firm IDC estimates that Meta’s devices accounted for nearly 80% of the 8.8 million virtual reality headsets sold in 2022. By continuously innovating and introducing new products, Meta aims to solidify its position as a market leader in the rapidly evolving VR industry.
Building Towards the Vision of a Metaverse
Despite Meta’s dominance in the market, the realisation of the company’s vision for an immersive “metaverse” of interconnected virtual worlds is still a work in progress. The pace of market expansion beyond gaming communities has been relatively slow. Nevertheless, Meta remains committed to advancing the concept of the metaverse and exploring new possibilities for immersive experiences.
Quest Price Reduction
In a bid to stimulate demand, Meta previously reduced the prices of its existing Quest headsets in March. This move followed a price increase for the entry-level Quest 2 128 GB version in July 2022. The high-end Meta Quest Pro, originally priced at $1,500, now sells for approximately $1,000. Similarly, the Quest 2’s 256 GB version now starts at around $430, down from its original price of $500.
Continued Affordability Efforts
Meta recently announced that it would further decrease the prices of the Quest 2 starting June 4. The entry-level device will revert back to its initial price of $300, while the 256 GB version will be available for $350. These price reductions aim to make Meta’s existing headsets even more accessible to a wider range of consumers, fostering greater adoption and market penetration.
As Meta gears up for the release of the Quest 3 mixed reality headset, the company remains at the forefront of innovation, bringing users closer to a world where virtual and augmented reality seamlessly merge. With Meta’s ongoing efforts to drive affordability and expand the boundaries of immersive experiences, the future of the VR Industry is set to be more captivating and accessible than ever before.
