icon
icon
icon
icon
Upgrade
icon

Apple Is Set To Launch Its AR Headset Next Month And Elevates The World Of Mixed Reality

AInvestTuesday, Jan 9, 2024 4:32 am ET
2min read

The release date for Apple's Vision Pro has finally been confirmed. The company's first brand new product in nine years will officially hit the shelves on February 2nd this year, and Apple hopes that this wearable device will follow the iPhone as another ground-breaking product.

On Monday, Apple announced that this mixed reality wearable, priced at $3,499, will officially go on sale on the first Friday of February, and Apple will start accepting online pre-orders from 5 pm on January 19th.

Apple said it will launch a new App Store for Vision Pro and added that users will be able to access over one million compatible apps across iOS and iPadOS. For those needing vision correction, Apple will offer prescription optical lenses made by Zeiss for $149, and readers in various standard strengths will be available for $99.

Following this announcement, Apple's stock finally rebounded slightly on Monday after falling in the previous four trading days, ending the day up 2.4% at $185.5.

In fact, it has been several months since rumors about this device began to appear, and Apple has placed high hopes on this head-mounted device that combines virtual and augmented reality.

According to Apple, the Vision Pro is designed for more immersive FaceTime chats, gaming, videos, and interaction with productivity apps. It not only serves as Apple's entrant, possibly going even further to dominate the augmented reality (AR) wearable market currently led by Meta, but it also promises to introduce what Apple calls spatial computing.

The era of spatial computing has arrived, CEO Tim Cook said in a statement. Apple Vision Pro is the most advanced consumer electronics device ever created. Its revolutionary and magical user interface will redefine how we connect, create, and explore.

However, Apple did not specify when the Vision Pro would be sold outside of the United States, and the company did not share any other related information.

It's worth noting that Apple is entering a market where other large technology companies have been struggling. Meta Platforms has long dominated the virtual and mixed reality display market with its Quest series, but Meta's Reality Labs business division continues to lose more than $10 billion a year due to its investment in developing the supportive metaverse and related hardware.

Furthermore, whether it's reducing prices or launching new products, Meta has been unable to reverse the severe decline in the consumer-grade VR market, according to a report by research firm Omdia, which pointed out that sales of consumer-grade VR headsets dropped 24% again in 2023, plunging from 10.1 million units in 2022 to 7.7 million units, and they predict further drops of 13% in 2024 and 2025. Nobody knows how Apple's Vision Pro, priced at over three times the cost of Meta's Quest series, will fare with sales.

Nevertheless, Apple may have its own trick to address these potential sales challenges. According to insiders, Apple is preparing to launch a series of tools based on Generative AI at the Worldwide Developers Conference (WWDC) in June this year.

These innovative tools are rumored to be part of the upcoming iOS 18 release and could completely change how users interact with Apple's core applications and even future Apple devices. Hence, Apple might integrate these AI tools into its Vision Pro and enhance user experience with the power of AI.


$AAPL(AAPL)

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.