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By Malitha Goonaratne · Jul 16, 2023
XR and MEP (Q2 2023): Apple's Vision Pro fuels XR's cautious comeback as metaverse plummets
Key takeaways
Extended Reality (XR)
Apple launched its first spatial computing device, the Vision Pro, priced at USD 3,499. The device features eye-tracking and a 4K-per-eye display with a noticeable absence of controllers, shifting its focus from gaming to immersive viewing experiences. However, reports suggest a reduction in 2024 production targets to less than 400,000 units, with material costs estimated at USD 1,549. Apple is also reportedly working with Samsung and LG on a more affordable version of the headset, set for release by the end of 2025.
The Extended Reality (XR) industry saw a rebound with key product launches and a modest recovery in funding. Q2 sawsix notable device launches (including Apple’s Vision Pro and Meta’s Quest 3) and 20 software launches/updates to existing platforms. The AR/VR platforms segment recorded the highest number of software updates (12), which included the launch of generative AI-backed tools, followed by the Content segment.
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