Meta founder and CEO, Mark Zuckerberg said that the Facebook-parent company will launch the next-generation consumer headset "later this year" and it will feature better mixed reality (MR) technology.
– The development came after Meta announced that its Reality Labs division lost $13.7 billion on virtual reality (VR) and augmented reality (AR) in 2022.
– The top executive said that the Meta Reality ecosystem is relatively new, but it's going to grow a lot in the next few years.
– The top executive also said that there are now more than 200 applications on the company's VR devices that have made more than $1 million in revenue.
– In January, Meta acquired Gary Sharp Innovations, a Colorado-based optics startup to help it build better VR headsets as well as AR glasses.