Meta Welcomes Headset War With Apple
Meta Platforms is hoping Apple's launch of the Vision Pro can reinvigorate its $50 billion metaverse effort, which consumers have yet to widely embrace.The social-media company wagered its reputation on the technology in 2021, changing its name to reflect an expansive vision that the future would rest in immersive virtual worlds.Three years later, Meta's Reality Labs division accounts for less than 1% of overall revenue, and the company has struggled to expand the cache of its Quest devices beyond a niche market. Reality Labs is expected to lose $115 billion between now and 2030, according to FBB Capital Partners.On the eve of the arrival of Apple's Vision Pro, which will hit U.S. stores Friday, executives at Meta are optimistic, believing the iPhone maker's entry into the market will validate Chief Executive Mark Zuckerberg's gamble and draw more consumers, according to people familiar with their thinking.Meta first got into headset devices when it acquired Oculus VR for $2 billion in