Meta shuts down Elon Musk’s Starlink competitor, to split Connectivity division – Times of India
Meta launched its Connectivity division in 2013 and explored multiple ways to provide “free” internet to people, including with the help of Facebook Aquila — an experimental solar-powered drone developed by the company that aimed to beam the internet to remote parts of the world.
Meta Connectivity restructuring
As per reports by Light Reading and Fierce Wireless publications, Meta will be restructuring the division with employees being redistributed to the “Infra” and “Central Products” teams within Meta.
As per the publications, the company plans to continue working with telecom ecosystem partners and participate in the Telecom Infra Project (TIP) launched at Mobile World Congress (MWC) in Barcelona in 2016 with an aim to develop standards for various telecom technologies.
The development is a part of restructuring in the company after Meta CEO Mark Zuckerberg announced that he was letting go over 11,000 employees thereby reducing the size of the company by about 13%
Zuckerberg’s metaverse bet
Earlier this year, a company executive said that Meta anticipates Reality Labs operating losses in 2023 will grow significantly year-over-year. Reality Labs is a Meta-owned business that produces virtual reality and augmented reality hardware and software.
Reports suggest that Meta reportedly lost more than $9 billion by October 2022 which was just under the $10 billion it lost in 2021.
Meanwhile, the company is still betting big on Metaverse. The company recently launched its flagship Quest Pro headset and hinted that the company’s “next generation of the consumer Quest headset” will launch “later next year.”
In fact, Zuckerberg also referenced the “next generation of our consumer Quest headset” during the investors’ call.
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