Meta Platforms cut the costs of its virtual reality headsets in hopes of stirring demand for its VR hardware, as its daring bets on the metaverse have struggled to make a giant splash.
Its will retail for $999, down 33% from its launch price of $1,499, and Quest 2 256 GB version for $429 from $499, Chief Executive Mark Zuckerberg said in a broadcast on its social media platform Instagram on Friday.
The corporate called out lower Quest 2 sales as the explanation behind a 17% drop in fourth-quarter revenue at its Reality Labs unit, which incorporates VR-related offerings.
The division lost $13.7 billion last yr and over $10 billion in 2021.
Meta is facing heat from investors for pouring money into metaverse that has not reaped advantages as expected.
Late last yr, the corporate launched Quest Pro, positioning it as its most-advanced VR headset with capabilities to push the use-cases further.
Quest Pro, with its outward-facing cameras that capture 3D livestream of the physical environment and permit novelties like the flexibility to hold virtual paintings on a real-world wall, was aimed toward designers, architects and other creative professionals.
Meta has of late sobered its stand on the metaverse and is specializing in saving costs. The corporate called 2023 because the “12 months of Efficiency” and projected billions in cuts to its spends this yr.
While VR headsets have added more advanced capabilities of late, their adoption outside of the gaming community has been slow.
Last month, Tencent, the world’s largest video game publisher, shelved plans to enterprise into VR hardware, while it has been in talks to distribute Meta Quest line of products in China.
