At Meta’s Connect conference this week, the talk of the town was Apple’s entry into the virtual reality (VR) market. Meta CEO Mark Zuckerberg unveiled the company’s latest VR headset, the Quest 3, which is priced at $499 and will start shipping next month. The announcement came with the revelation that Meta’s VR app store, Quest Store, has generated $2 billion in sales since its launch in 2019. Prior to Apple’s announcement of its Vision Pro mixed-reality headset, the VR industry was experiencing a decline in investments and lacked a sense of legitimacy. However, Apple’s reputation for seamlessly combining hardware and software has instilled confidence in developers and VR companies. Despite Meta’s ongoing financial losses, the company’s continuous investment in VR is seen as essential for the industry’s growth.
Apple’s entry into the VR market has given Meta’s efforts more legitimacy, despite the high price point of its Vision Pro headset. While the Quest 3 is $200 more expensive than its predecessor, it is significantly cheaper than Apple’s device. The Vision Pro, priced at $3,499, is expected to primarily attract business customers, given its high price and Apple’s reputation among enterprises. However, the $2 billion in sales from Meta’s Quest Store is seen as significant, even though it pales in comparison to Apple’s marketplace. Developers and attendees at the conference see the need for multiple companies in the VR market to prevent monopolization.
Meta still faces challenges in bringing VR into the mainstream, but the improvements in the Quest 3, such as the enhanced passthrough feature, show promise in creating more immersive experiences that integrate the physical and digital worlds. While the Quest 3’s price may deter some consumers, particularly those who already own the Quest 2, developers are excited about the potential of improved hardware and visuals. Apple’s entry into the market has sparked renewed interest and activity in the VR community, and companies like Litesport are considering developing for the Vision Pro in the future when the price becomes more accessible. Ultimately, Apple’s move into VR signifies that it is no longer just a side project for Facebook, but a technology that is gaining popularity and attention industry-wide.
