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I’m making a short visit to China, where I finally got to witness a traditional street show for the New Year featuring the dragon and the tiger. It’s been amazing here, though I must admit, I might pop soon from all the food I’ve been enjoying. What a way to go! I want to extend my best wishes to everyone as we enter the Year of the Snake, and now, let’s dive into the most exciting XR news from last week! (UPDATE: This newsletter is coming out a couple of days late as I was knocked out by an illness for a bit—not food-related! I only just managed to get back up and finish it, and rereading that cheerful opener brought a smile to my face. Sorry for the holdup—hoping you’re still sticking with me!)
Top News of the Week
Meta’s fourth quarter for 2024 was nothing short of impressive, yet there’s plenty to chew over. The standout news is that Reality Labs reported a staggering $1.08 billion in revenue, marking a new high for that branch of Meta. It’s typical for Meta to see a revenue spike in Q4, with Quests being a hot holiday item. Indicators suggested this would be another successful Q4: the Meta Quest app topped iOS charts, one million people tried Batman Arkham Shadow, and the Quest dominated console sales on Amazon in 2024. However, the MR/VR segment hasn’t exactly been thriving, so the scale of success was a surprise, making it Meta Reality Labs’ best quarter yet.
What slipped under our radar was the role of Ray-Ban Meta glasses. Zuckerberg revealed that over one million pairs were sold in 2024, translating to over $300 million in revenues. While revenue sharing details with EssilorLuxottica remain opaque, even assuming Meta nets just 30%, that’s still upwards of $100 million annually, or more than $25 million per quarter. Subtracting this from the total Q4 revenue might suggest the remaining, largely Quest-related revenues, were flat or slightly down from last year (after adjusting for Ray-Ban Meta/Stories figures from the previous year).
To me, this signifies two things: the MR/VR market remains vibrant—far from dead—and is inching forward but craves innovation for a leap; meanwhile, smart glasses are emerging with potential, though perhaps slightly overhyped. Zuck’s enthusiasm for Ray-Ban Meta is evident; he predicts future editions might sell 2-5 million units—a significant leap.
Zuck is also optimistic about Horizon Worlds, claiming user growth and visually stunning developments are on the horizon. However, this growth, achieved by directing users to Horizon Worlds, is pleasing Meta execs but harming developers who rely on the Horizon Store.
Yet, alongside these promising revenues, there are hefty costs for Meta—$6.05 billion in the last quarter, their highest expense to date. This is largely due to R&D aimed at besting competitors in crafting the first consumer AR glasses, alongside notable losses from underpriced device sales. Meta’s financial history shows a trend: more sales result in more losses. From Q4 2020, Meta has invested $69 billion in Reality Lab but recouped just $9.19 billion. And expect these expenses to climb, with returns predicted only in the 2030s.
More info on Meta’s Q4 2024 financials: A leaked memo, Batman Arkham Shadow user numbers, and Horizon Worlds’ planned enhancements await your exploration.
Other Relevant News
Apple is reportedly still seeking its optimal strategy for AR glasses, according to insider Marc Gurman. Although Apple remains committed to AR glasses development, a clear path remains elusive. Gurman’s recent report discusses a pivot from iPhone-tethered glasses, which drained too much battery, to a potential Mac connection, both of which met unsatisfactory feedback and were subsequently nixed.
Yet, Apple isn’t waving the white flag on AR glasses. A specialized team in a secret Santa Clara lab is pioneering microLED displays tailored for future AR glasses. While promising, insiders suggest Apple AR glasses might not debut until 2028, if not later.
The turbulence in Apple’s Vision Products Group has reportedly affected morale, with candidates perceiving a lack of focus and clear directives. Innovation, as I know too well, is a challenging and frustrating path, but it’s rewarding in the end.
More info on Apple’s work with microLEDs and AR glasses alterations.
In the spirit of celebration, the Apple Vision Pro just turned one! My feed was buzzing with congrats and cheer from enthusiasts, so here’s a shoutout too: Happy Birthday, Apple Vision Pro! Thanks for injecting some competitive spirit back into the XR landscape and prompting others to step up their XR strategies.
News Worth Mentioning
VRChat has rolled out age verification for VRC+ subscribers. Enabling verification through Persona, users may present official documents or facial photos to prove their age. Though voluntary, verification grants access to adult-themed areas and an adult badge. VRChat is pioneering this in social VR, addressing issues with younger users disrupting experiences without a reliable adult-kid separation.
However, users must weigh sharing personal data with an external entity against the potential of a more serene VR environment. Plus, with verification limited to a segment of users, builders might hesitate to restrict their content to verified adults. Time will tell users’ willingness to trade privacy for tranquility.
In line with evolving competition, the XReal One or the Apple Vision Pro presents an intriguing comparison raised by Scott Stein. The XReal One, lauded for offering virtual movie displays, poses a compelling question: if a large, virtual screen is your aim, why splurge $3500 when a focused, cheaper device like XReal One suffices? While Vision Pro’s wider FOV and color richness are superior, this raises food for thought.
Viture has unveiled its new Pro XR glasses, flaunting 1920×1080 micro OLED displays and a 46° FOV, priced at $459, with an early-bird discount of $50.
Meanwhile, Logitech’s MX Ink pen emerges as an innovative tracker substitute for Meta Quest experiments, enabling developers to explore tracking with added tools.
Sunnyvale-Athens-based startup Haptikos has introduced a prototype hand exoskeleton to compete in XR haptics, set to cost $1000 by 2026, much less than other market options.
Meta is tightening its grip against leaks. Any culprit will face termination, said Zuckerberg, reducing transparency due to ongoing breaches—an amusing irony considering even his declaration leaked.
Meta Quest passthrough and ChatGPT integration is on the way, aiming to merge Meta Quest 3’s camera capabilities with OpenAI GPT-4o for a potentially impactful synergy in AI and XR interaction.
The VR ecosystem faces more challenges: Orbus VR closure, layoffs at Fast Travel Games, and Vertigo Games selling Springboard VR—signs of ongoing struggles in the VR domain.
Content news: COLD VR’s release date is set for February 11. Aces of Thunder, a VR aerial combat game, is slated for PSVR 2 and PC sometime in 2025. Other updates include new releases and content discounts to keep an eye out for in the XR landscape.
Reviews: Path of Fury and StageTime VR offer promising previews, adding potential excitement to the XR gaming space.
Other News
The VR Games Showcase returns in March, promising an expansive lineup. Innovations also continue with Mindshow’s enterprise animation tool launch, XR4Europe landscape reports, and XR Bootcamp’s smartglasses market comparison.
The v74 Quest update seems to have worsened the UI, while Samsung trademark issues raise questions over duplicated headset names.
Also, fascinating insights emerge from astronauts using HTC headsets to combat solitude in space, offering a glimpse into the extended applications of XR technology.
News from Partners and Friends
Google Blocks is back as Open Blocks thanks to Icosa Foundation, who previously revived TiltBrush as Open Brush. Open Blocks, based on Google’s discontinued code, is now free and open source, available on the Horizon Store and GitHub. The Icosa Gallery is also in progress as a spiritual successor to Google Poly. The team continues to impress with their dedication to accessibility in creative tools.
Some XR Fun
There’s a humorous simulator out there, easily misinterpreted for something else, but definitely worth a chuckle.
Donate for Good
For this week, rather than donating to my blog, I urge you to consider supporting those affected by the ongoing conflict by donating to the Red Cross’ efforts in Ukraine. Here’s the link to make a difference:
Support The Red Cross in Ukraine
(Header image by Meta)
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I hope you enjoyed this round-up of XR news, and remember to share it with fellow innovators. Stay tuned for more updates!
