When Facebook rebranded to Meta in 2021, CEO Mark Zuckerberg introduced a bold vision of a digital future where work and play would be accessible through virtual reality (VR). Although the metaverse hasn't yet become mainstream, Meta has found new momentum in a different direction. Their partnership with Ray-Ban on smart glasses surprised many with its success, setting the stage for their next big leap in augmented reality (AR) technology.
Meta recently unveiled its highly anticipated AR glasses, Orion, a project nearly ten years in the making. Showcased at the company's annual Connect event, the glasses captivated the audience. The sleek, black-framed device, paired with a wireless puck and wristband that reads neural signals, allows users to interact with holographic images seamlessly overlaid on their real-world view. Reviews from early testers were overwhelmingly positive, with some comparing the experience to a futuristic video call or gaming experience with almost no lag.
Zuckerberg himself is positioning Orion as a glimpse into an exciting future. He calls the device a "time machine," offering a look at how AR technology could transform everyday life. This enthusiasm signals a shift within Meta, a company that has long struggled to balance its hardware ambitions with financial realities. After investing over $63 billion into its AR and VR division, Reality Labs, and seeing steep operating losses, the positive reception of Orion comes as a relief.
Now, Meta aims to engage developers to build apps that will complement the Orion glasses. The company is also preparing to push its next-generation Ray-Ban Meta smart glasses ahead of the 2024 holiday season while working on integrating Orion’s neural technology into other devices like the Quest VR headsets.
Meta’s stock has rebounded from a rough patch, gaining over 60% in 2024 alone. Yet, the company still faces significant hurdles before Orion becomes a consumer-ready product, including challenges in scaling production and sourcing rare materials. Nevertheless, the unveiling of Orion marks a promising new chapter in Meta’s journey, one that could finally bring Zuckerberg’s AR vision to life.
