Magic Leap

Magic Leap is a producer of AR headsets focused on enterprise applications of AR. The company’s flagship device is the enterprise-focused Magic Leap 2 which was soft-launched in January 2022 and commercialized in October 2022. The company claimed that this was the lightest and most portable device built at the time (weighing 260 grams). In July 2024, the company laid off ~75 of its employees, including its entire sales and marketing teams. This came as part of a restructuring initiative aimed at pivoting toward licensing the optical technology that underlies its headset to third parties.

Notable features of the Magic Leap 2 include its ‘dynamic dimming’ tech, making AR content more legible across different lighting conditions, a 70° field of view (FOV) and persistent spatial mapping features. The company generates revenue through sales of the device, available in three editions (Base, Developer Pro and Enterprise), priced between USD 3,299–4,999. 

In 2023, Magic Leap improved its Magic Leap 2 headset with the 1.4.0 update (October) enhancing hand-tracking and positional tracking. Earlier, it added OpenXR support (April), enabling developers to adapt VR solutions for the headset without additional optimization. The company also developed the Magic Leap 1 (launched in 2018, and set to discontinue functionality for it by end 2024), priced at USD 2,295-2,995. 

Magic Leap, initially focused on consumer AR, shifted to the enterprise market in October 2020 after failing to gain consumer market share and facing bankruptcy due to Covid-19. The company pursued an acquisition strategy to enhance its tech stack, acquiring Mimesys (holographic teleconferencing, May 2019) and Computes (mesh computing platform, October 2018).

Key customers and partnerships

As of January 2024, the company serves health, manufacturing, oil and gas, transport, defense, and public sectors, providing solutions for government agencies at all levels. It holds over 1,900 patents, covering AR device calibration and virtual object interactivity.

Notable recent partnerships include that with

1) Google to launch new AR solutions and experiences (May 2024)

2) Mercedes-Benz to incorporate the Magic Leap 2 AR glasses in the Vision One-Eleven concept car for a configurable, immersive AR interface between the driver and the vehicle (July 2023).

3) Audi to incorporate the Magic Leap 2 AR headset in the Audi Activesphere concept car for immersive driving experiences (April 2023).