Business News Report
February 26, 2024

Meta Quest Pro 2 Developed In Collaboration with LG to Launch in First Half of 2025

In Brief

Meta and LG will launch Quest Pro 2 in the first half of 2025, with details of the VR headset collaboration to be finalized during this week.

Meta and LG Collaborate to Launch Quest Pro 2 in First Half of 2025

Upcoming virtual reality (VR) headset Quest Pro 2 from technology conglomerate Meta, produced in collaboration with the South Korea’s LG Electronics, is set to be unveiled in the first half of 2025.

The details of the collaboration are anticipated to be finalized during discussions scheduled for this week between Mark Zuckerberg, CEO of Meta and Jo Joo-wan, CEO of LG Electronics. A forthcoming meeting between the two companies will revolve around determining the services to incorporate into the Quest Pro 2 premium headset and devising an effective sales strategy.

Meta and LG’s collaboration to launch an XR headset aims to outperform a similar product by rival company – Apple’s ‘Vision Pro.’

LG Electronics will leverage its extensive hardware technology accumulated over the years, while Meta will contribute its accumulated expertise in AI and the Metaverse business. The convergence of these two companies, each excelling in different domains – software (Meta) and hardware (LG), is expected to generate substantial synergy.

In the industry, Meta is often identified as having a weakness in hardware. Despite proficiency in product design and planning, the company lacks direct manufacturing capabilities. The ‘Meta Quest 3,’ launched in October last year, faced criticism for being perceived as ‘heavy,’ causing dizziness, and lacking content beyond gaming.

This is the reason Meta opted for LG as its collaborator. Simultaneously, LG had been devising diverse strategies to seize opportunities in the expanding metaverse market. The anticipated division of responsibilities between the two entities is projected as LG taking care of the hardware realm and Meta taking care of the software within the broader framework. Moreover, LG’s ‘WebOS’ is likely to be used as the operating system (OS), referred to as the brain of smart devices.

Meta Moves Toward Regaining Dominance in Headset Realm

Meta has consistently introduced VR and AR (augmented reality) headsets over the past ten years. Acquiring the VR headset developer Oculus in 2014 allowed Meta to dominate approximately 70% of the global market by 2022, driven by consistent product launches.

However, starting last year, the market share dwindled to around 40% due to the rise of affordable Chinese products and the entry of competitors like Japanese technology company Sony. With the recent sale of over 200,000 units of Apple’s XR headset ‘Vision Pro‘ on the 2nd, it is anticipated that Meta’s market share will decline further.

The industry envisions extended reality (XR) technology, extending its utility beyond daily life, finding applications in industrial sectors like construction, medical care, and firefighting. Market research firm IDC projects that the XR device market will witness substantial growth, doubling from $18.2 billion this year to $35.7 billion by 2026.

As Meta and LG collaboratively work on Quest Pro 2, addressing hardware challenges, it is expected that Meta will fortify its position in the evolving competitive XR landscape.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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