Meta Platforms halted further development of a premium mixed-reality headset which would have competed against Apple’s Vision Pro, technology news site The Information reported.
Citing two Meta Platforms employees, the news site stated the company recently told employees in its Reality Labs division to stop working on the headset. The decision followed a product review meeting which included CEO Mark Zuckerberg and CTO Andrew Bosworth, among other executives.
The Information explained the high-end headset is known internally as La Jolla and it was slated for release in 2027. The news site stated was going to feature ultra-high resolution screens known as micro OLEDs, which is the same screen technology used in Apple’s Vision Pro.
While Zuckerberg remains bullish on the prospects of creating AR and VR technologies such as its Quest headsets, the company’s metaverse-focused Reality Labs division continues to haemorrhage cash.
In Q2, the division booked an operating loss of $4.5 billion, a 21 per cent year-on-year increase in expenses to $4.8 billion and revenue of $353 million, up 28 per cent largely on Quest VR headset sales.