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Meta and Snap Invest Billions in AR Glasses

Mark Zuckerberg recently unveiled one of the company’s most ambitious projects: the Orion augmented reality prototype
October 25, 2024

After years of anticipation and billions of dollars in investment, the race to bring augmented reality (AR) into everyday life is heating up, with tech giants like Meta and Snap making bold moves to push the technology forward. In September, Meta’s CEO Mark Zuckerberg finally unveiled Orion, an AR prototype that represents one of the company's most ambitious projects yet. Just a week before, Snap’s CEO Evan Spiegel introduced the latest AR-capable version of Spectacles, signaling both companies’ commitment to turning AR glasses into the next big thing in computing.

Meta’s Chief Product Officer, Chris Cox, described this development as a “major leap forward” for the tech industry, emphasizing that Orion is a key part of Meta's vision for the future. The dream of AR and mixed reality has long been in the works for many tech companies, but the realization of that dream has faced numerous hurdles.

Earlier this year, Apple entered the AR/VR race with its Vision Pro headset, priced at a steep $3,500, while Google made early attempts in 2013 with Google Glass. However, that product faced difficulties and was eventually discontinued. Even Microsoft, which introduced the HoloLens for enterprise in 2016, recently halted production due to lackluster demand.

“We’re in our adolescence,” said Tuong Nguyen, a Gartner director analyst, reflecting on the AR industry. Despite all the excitement, the path to mass adoption remains challenging.

While both Meta and Snap have revealed their AR prototypes, these devices won’t be hitting store shelves anytime soon. High production costs mean AR glasses are still years away from reaching consumers. For now, Meta plans to use Orion primarily for internal development and partner collaborations. Meanwhile, Snap has opted for a unique approach, offering its AR Spectacles to developers at $99 a month, hoping to build an ecosystem ready to support AR when it finally reaches the public.

Both companies are banking on AR becoming the next evolution in computing, poised to eventually replace smartphones. But until technology becomes more affordable and accessible, the dream of AR glasses revolutionizing the way we interact with the digital world remains just over the horizon. The groundwork is being laid, and while the journey may be long, Meta and Snap are determined to be at the forefront when the technology finally takes off.

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