Meta’s new headset to feature better mixed reality tech: CEO Mark Zuckerberg

“The Meta Reality ecosystem is relatively new, but I think it’s going to grow a lot in the next few years,” Zuckerberg said in the company’s latest earnings release.

“Later this year, we’re going to launch our next-generation consumer headset, which will feature Meta Reality as well, and I expect that this is going to establish this technology as the baseline for all headsets going forward, and eventually of course for augmented reality (AR) glasses as well.”

He also mentioned that there are now more than 200 applications on the company’s virtual reality (VR) devices that have made more than $1 million in revenue.

Last month, Meta had improved its Quest’s hand tracking technology with the new Hand Tracking 2.1 update, which features upgrades in reliability, accuracy and system pinch quality to improve the consistency and flexibility of hand inputs in users’ VR applications.

Meanwhile, the company had introduced a new heart rate tracking feature and Health Connect by Android integration on Meta Quest, so that users can keep track of all their fitness statistics.

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Meta resultsMeta posted lower fourth quarter profit and revenue, with quarterly profit declining 55% as Zuckerberg on Thursday said his management theme for 2023 is “year of efficiency” after 18 years of growth, while addressing analysts on a post-earnings call.

The company’s net income was $4.65 billion, or $1.76 per share, in the final three months of 2022. That’s down 55% from $10.29 billion, or $3.67 per share, a year earlier.

This marks the third consecutive quarter of revenue decline for the tech giant, which laid off 11,000 workers, or about 13% of its workforce, in November.

Meta reported that it had scooped up $32.17 billion in fourth-quarter revenue, down from $33.67 billion a year ago.

“Our community continues to grow and I’m pleased with the strong engagement across our apps. Facebook just reached the milestone of 2 billion daily actives,” said Zuckerberg said in a statement.