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- 1 Apple gave a glimpse at Vision Pro and some of its features during WWDC23.
- 2 The mixed reality market is expected to generate $20 Billion by 2026.
Tech giant Apple’s upcoming product, Vision Pro, will likely make its landfall in the market in early Spring 2024. It was unclear how many units the company would come out with initially. However, some rumors suggest that they are going to mass-produce its head-mounted displays (HMDs). The organization has put a $3,500 price label on it.
Manufacturing Gaining Pace in China
According to a Chinese news website, Jiemian News, the company’s proportion of the supply chain has reportedly increased by 60 percent in mainland China. Their reporters learned that Apple may mass-produce 400,000 units in December 2023. Moreover, the company is looking to hit 3 Million units in sales by the third year from its launch.
Lingyi Intelligent Manufacturing, a company responsible for Vision Pro unit production, has hired thousands of individuals in the factory. Furthermore, the organization has put additional production lines to speed up production. The company recently mentioned that “Customer C’s demand for the AR/VR products produced by this fundraising project is approximately 1.33 million pcs, and the procurement demand is clear.”
During WorldWide Developers Conference 2023 (WWDC23), Apple gave a glimpse into Vision Pro and some of its features. The mixed reality (MR) device is focused on spatial computing rather than the metaverse. Their competitors, Meta Platforms (formerly Facebook) are more concentrated on virtual worlds. They have already released their latest MR HMD Meta Quest 3 in October.
Rumors for Apple’s MR device surfaced in 2022 with people speculating the brand name to be “Reality Pro.” During the month of the official launch, the iPhone bearer started recruiting directors like Jon Favreau to produce content for Vision Pro. The company also acquired augmented reality (AR) startup Mira in the same month.
The mixed reality (MR) market is expected to generate $20 Billion by 2026. Moreover, the number of MR users may surpass 75 Million. Currently, the metaverse has 400 users on different platforms. MR is among the crucial technologies required to access the metaverse. To truly experience the metaverse, access to these devices is integral.
Meta Platforms initially set a target of 7 Million Quest 3 unit sales. Nevertheless, the number has been reimagined to 2.5 Million. The metaverse company may achieve the goal given it is cheaper in contrast to most of the HMDs circulating or entering the market.
Recently, a South Korean newspaper reported that Samsung, Qualcomm, and Google had formed an “XR Alliance.” Another news publisher Upload VR said that Samsung has communicated with developers to bring a headset product by the end of 2024.
Analysts believe HMDs may replace traditional smartphones in the near future. However, they reason with the fact that these devices may become lighter similar to glasses as technology evolves. However, the cost of development of these units is often high and the general public may only be able to afford it later.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
