Meta officially announced its Quest 3 VR headset, set to launch in the fall of 2023, retailing at USD 499. Additionally, Meta slashed Quest 2 headset prices to USD 299 for the 128GB version and USD 349 for the 256GB version and announced performance improvements.

The Quest 3 VR headset features a 40% slimmer optic profile, a higher resolution display, 2x GPU performance backed by a new Snapdragon chip, and 10x more pixels in passthrough compared to the Quest 2. Meta claims that the Quest 3 will be the first mainstream headset with full-color passthrough capabilities, featuring three front cameras, hand-tracking support, updated Touch Plus controllers with TruTouch haptics, and support for Quest 2’s ~500 libraries of game titles. Additionally, the headset also incorporates a depth sensor to enhance AR capabilities.

Moreover, Meta announced an upcoming software update for the Quest 2 and Quest Pro, which will enhance CPU and GPU performance. The update will bring up to a 26% increase in CPU performance, up to a 19% increase in GPU speed for the Quest 2, and an 11% increase in GPU speed for the Quest Pro. Furthermore, the update introduces Dynamic Resolution Scaling, which enables the adjustment of individual render targets to reduce GPU workload and ensures a consistent frame rate even in cases where the application's frame rate drops.

Analyst QuickTake: Just days before Apple's anticipated MR headset launch at the WWDC conference, Meta made its own announcement to establish a competitive edge. Alongside the launch, Meta revealed over 15 new titles for Quest VR headsets during the Meta Quest Gaming Showcase. Furthermore, with the upgraded Snapdragon processor, Meta will be able to provide gaming experiences of higher fidelity, approaching the level of Sony's USD 549 PSVR 2 headset (excluding the cost of the PS5 required to run games on it).