Big News from Qualcomm, Apple, Meta, and Magic Leap
As the second half of 2023 approaches, exciting announcements are being made by leading XR and emerging technology firms. Meta and Qualcomm are among the major players gearing up to showcase their latest innovations in immersive technology. After a slow start in the beginning of the year, the XR market seems to be gaining momentum and heading towards a successful 2024.
Qualcomm, in its Q3 earnings report, expressed optimism about its XR investments following a decline in smartphone sales. Cristiano Amon, Qualcomm’s President and Chief Executive, spoke positively about the partnership with Meta to integrate the Snapdragon XR2+ chipset in the upcoming Quest 3. The firm also highlighted its success through its partnership with Oppo, aiming to drive the ecosystem of VR and MR developers in China.
However, Qualcomm’s smartphone sales took a hit, declining around 8.2 percent in Q3. The weakening demand for smartphones in the Chinese market has contributed to this slump. As a result, the company is undergoing restructuring efforts, with layoffs expected to occur soon. Despite these challenges, Qualcomm remains committed to delivering value to its stockholders in an uncertain environment.
Apple is rumored to be integrating augmented reality (AR) features into its upcoming AirTag 2 product. According to trusted Apple Analyst Ming-Chi Kuo, AirTag 2 is expected to debut in the fourth quarter of 2024, with Vision Pro compatibility. Apple is building a new ecosystem based on spatial computing, using Vision Pro as the core to integrate other devices.
Meta has announced the official dates for Meta Connect 2023, an event where the firm will showcase its upcoming XR products, Horizon Worlds’ metaverse developments, and emerging AI innovations. Attendees will have the opportunity to learn from Meta’s community of developers, builders, and creators. The event will feature keynotes from CEO Mark Zuckerberg and developer sessions, likely including sneak peeks of the upcoming Meta Quest 3 MR device.
In an effort to revitalize its Horizon Worlds platform, Meta has established Ouro Interactive, a production studio focusing on creating first-party VR gaming experiences. Meta is also releasing a mobile version of the Horizon Worlds service, although no release date has been announced yet. The company is investing in these updates to drive new money-making opportunities within the Metaverse service.
Automotive news also made waves this week as Mercedes-Benz partnered with Magic Leap to introduce augmented reality features to its Vision One-Eleven Concept Car. Magic Leap’s immersive goggles will enhance the car’s dashboard by providing navigational waypoints, driving modes, communications, and real-time road data through an AR HUD. This collaboration aims to improve the driver’s experience while keeping them focused on the road.
Overall, the XR and emerging technologies market is set to experience significant advancements and innovations as we approach the second half of 2023. Meta, Qualcomm, Apple, and Magic Leap are at the forefront of these developments, shaping the future of immersive technology and pushing the boundaries of what is possible.