United States: The technology giant Meta has introduced Meta Quest+, a subscription service for its virtual reality (VR) headsets, that will provide its users access to two games each month.
Mr. Mark Zuckerberg, the CEO of Meta, announced that starting from 26th June 2023, people can subscribe to Meta Quest+ for their Quest 2, Pro, and upcoming Quest 3 devices. The subscription will cost $7.99 per month or $59.99 per year.
As per the statement, during the initial quarter of the year, the VR unit of Meta, the parent company of Instagram, incurred a loss of $4 billion. Meta is encountering competition from various companies, including technology behemoth Apple, which recently revealed its much-anticipated mixed-reality headset.
In March 2023, Meta reduced the prices of its headsets because their ambitious endeavours in the metaverse didn’t receive much attention. Currently, Meta’s main VR headset, Meta Quest Pro, is priced at $999.99, which is lower than its original price of $1,499.99. Similarly, the Quest 2 is now available for $299.99 on Meta’s website.
In 2021, Mr. Mark Zuckerberg, the CEO of Meta, revealed plans to create a “metaverse,” an online world where people can engage in games, work, and communicate in a virtual environment using VR headsets. Mr. Zuckerberg expressed his desire for Meta to be recognized as a metaverse company, emphasizing the importance of their long-term goals. On February 2022, Meta introduced several ambitious artificial intelligence (AI) projects, with Mr. Zuckerberg considering AI as the key to unlocking the potential of the metaverse.
Meta exceeded market expectations by reporting a profit of $5.7 billion in the first quarter of this year. However, their Reality Labs division, responsible for producing VR headsets and other products, incurred a net loss of $4 billion during that period. Recently, Apple unveiled its Vision Pro mixed-reality headset, marking its significant hardware launch in nearly a decade. The anticipated headset is set to be released early next year in the United States, with a price tag of $3,499.
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