As Meta (formerly Facebook) continues to bet big on gaming, it has lost close to $4 billion on its augmented reality\/virtual reality (AR-VR) division.<\/p>\n
The Mark Zuckerberg-run company showed continued losses in its AR\/VR Reality Labs division in its latest quarterly results.<\/p>\n
The company is losing money at a rate of more than $1 billion per month since June 2022 on its AR\/VR dream, according to GamesIndustry.biz.<\/p>\n
“We continue to expect operating losses to increase meaningfully year-over-year due to our ongoing product development efforts and our investments to further scale our ecosystem,” according to the company.<\/p>\n
Meta CFO Susan Li said on the Q1 earnings call that “We continue to expect operating losses to increase meaningfully year-over-year”.<\/p>\n
Meta’s Reality Labs recorded $440 million in revenue but an overall loss of $3.85 billion.<\/p>\n
“The initial signs are quite positive here. But building the leading AI will also be a larger undertaking than the other experiences we’ve added to our apps, and this is likely going to take several years,” said Zuckerberg.<\/p>\n
Meta captured 59 per cent of the Extended Reality (XR) headset market in 2023.<\/p>\n
Notably, Meta strategically lowered the price of its existing Quest 2 throughout the year, making it an attractive option for budget-conscious consumers, especially during the holiday season, according to Counterpoint Research.<\/p>\n
This strategy helped Meta maintain its lead until the launch of Quest 3 in Q4 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"
As Meta (formerly Facebook) continues to bet big on gaming, it has lost close to $4 billion on its augmented reality\/virtual reality (AR-VR) division. The Mark Zuckerberg-run company showed continued losses in its AR\/VR Reality Labs division in its latest quarterly results. The company is losing money at a rate of more than $1 billion per month since June 2022 on its AR\/VR dream, according to GamesIndustry.biz. “We continue to expect operating losses to increase meaningfully year-over-year due to our ongoing product development efforts and our investments to further scale our ecosystem,” according to the company. Meta CFO Susan Li […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-801089","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/801089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=801089"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/801089\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=801089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=801089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=801089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}