Meta Confirms Oculus Quest 3 Will be Affordable, But Its VR Business is on Thin Ice

source: Mixed Reality News Meta, formerly known as Facebook, has confirmed that its upcoming Oculus Quest 3 will be affordable, but the company's virtual reality (VR) business is reportedly facing challenges. In this article, we will discuss the details of the upcoming Oculus Quest 3 and the challenges facing Meta's VR business.

Affordable Oculus Quest 3

During a recent earnings call, Meta CEO Mark Zuckerberg confirmed that the company's upcoming Oculus Quest 3 will be affordable. The Oculus Quest 3 is expected to be released in 2024, and it will build on the success of the Oculus Quest 2, which has sold over 10 million units since its release in 2020.

Challenges Facing Meta's VR Business

Despite the success of the Oculus Quest 2, Meta's VR business is reportedly facing challenges. The company has struggled to attract developers to its VR platform, and there are concerns about the long-term viability of the VR market. Another challenge facing Meta's VR business is the ongoing legal battle with rival VR company, Epic Games. Epic Games has accused Meta of anti-competitive practices, and the case is expected to go to trial in May 2023. [caption id="attachment_166781" align="aligncenter" width="1200"] source: Windows Report[/caption]

Impact on Meta

The success of the Oculus Quest 2 has helped to position Meta as a major player in the VR market, but the challenges facing the company's VR business could threaten its long-term success. If Meta is unable to address these challenges, it may struggle to retain its market share in the VR market. In addition to the challenges facing its VR business, Meta is also facing increased regulatory scrutiny. The company has faced criticism over its handling of user data, and there are concerns about the impact of its products on mental health. Also read: How to Connect an Oculus Quest or Meta Quest to a TV Meta's confirmation that the Oculus Quest 3 will be affordable is good news for VR enthusiasts, but the challenges facing the company's VR business are cause for concern. With concerns about the long-term viability of the VR market and increased regulatory scrutiny, Meta will need to take steps to address these challenges if it wants to maintain its position as a major player in the VR market.