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What will be Meta's stock price relative to its current level by the end of 2024?
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Meta Cancels La Jolla Mixed-Reality Headset Plans for 2027, Vision Pro Rival
Aug 23, 2024, 04:12 PM
Meta Platforms has canceled its plans for a high-end mixed-reality headset, code-named La Jolla, which was intended to compete with Apple's Vision Pro. The device was slated for release in 2027 and was to feature ultrahigh-resolution micro OLED screens similar to those in Apple's product. The decision to halt development came after a product review meeting attended by Meta CEO Mark Zuckerberg and other top executives. The cancellation is part of Meta's broader strategy to reduce costs at its Reality Labs division while focusing more on artificial intelligence and existing AR/VR products. The move reflects challenges faced by Meta in the competitive mixed-reality market, particularly in light of the high costs associated with the device's development.
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