Belt-tightening has paid off in a big way at Meta Platforms, whose stock rocketed by as much as 19 percent due to a combination of “improving conditions” and news of a $40 billion buyback plan. The company forecast Q1 revenue of as much as $28.5 billion — which is more than first quarter earnings in 2021, right before a change in Apple’s privacy rules detrimentally impacted ad-reliant social platforms. In Q4, Meta reported its third consecutive quarter of declining sales but still amassed a net profit of $4.7 billion on revenue of $32.2 billion, down 4.5 percent year-over-year. Continue reading Zuckerberg Reveals 2023 ‘Year of Efficiency’ Mantra for Meta

Meta Platforms’ Vishal Shah told attendees of the Interactive Advertising Bureau’s annual leadership meeting that the brave new virtual world his company is conjuring will offer vast opportunities for marketing and promotion without the physical constraints of real estate leases, supply chain snags and geographic inconvenience. Appearing virtually, Shah revved the engines at “The Road to the Metaverse” tour, promising brands an exciting ride, albeit one that may take 10 years to hit cruising speed. Meta is stepping on the gas to get there, investing $11 billion in its Reality Labs VR unit last year.  Continue reading Meta Hypes Numerous Benefits of Metaverse for Advertising

Meta has a VR megaphone; Apple has been working on an AR headset; and Microsoft wants the best of both worlds, with its mixed reality HoloLens and headset-agnostic Xbox game platform. But observers say don’t count Google out. The search giant is reportedly ramping up its headset efforts under the codename Project Iris with a release target of 2024. As with HoloLens and, experimentally as of last summer, Passthrough API-enabled Oculus Quest 2 headsets, Google’s device-in-progress is said to use an outward-facing camera to provide a real-world backdrop for digital images. Continue reading Google Quietly Developing Cloud-Based Android AR Goggles

During CES, Canon introduced two new software-based collaborative tools it has in development: AMLOS, a video meeting platform based on gestures, and the VR platform Kokomo, a social VR platform for immersive video calls. Under the theme “Together Next,” Canon enlisted actor Joseph Gordon-Levitt and his online collaborative media platform HitRecord to demonstrate using the new hybrid collaboration technology in a virtual, real-time writers’ room. In addition to operation through gesture control and connectivity with Microsoft Teams and other collaboration apps, AMLOS will allow a single camera to capture multiple angles when it debuts later this year. Continue reading CES: Canon Solutions for New Reality of Virtual Work and Life

Next year, Apple is expected to unveil a glasses-like wearable that will be its big follow-up to the iPhone. This headset is expected to offer layers of information, objects and data spread to augment reality. Although Apple has remained mum on its plans for smart glasses, CEO Tim Cook is not shy about referencing AR and its “critically important” role in the company’s future, in September describing himself to a YouTube influencer as “AR fan #1,” and in a separate interview calling augmented reality one of the “very few profound technologies.” Continue reading Apple’s Next Major Product Could Involve Augmented Reality

Meta’s Reality Labs division has previewed a haptic glove designed to give the user sensation of handling a real object when manipulating things that only exist digitally in virtual space. Reality Labs, a division of Facebook prior to that company’s renaming as Meta Platforms, has spent seven years working on a haptic glove prototype, now rolled into Meta’s announced 2021 spending of $10 billion to develop hardware, software and apps for the metaverse — an AR/VR fused world conjured through digital sight, sound and touch. Companies including HaptX, Hi5, Manus and SenseGlove have also demonstrated haptic gloves, an increasingly competitive field. Continue reading Meta Reality Labs Haptic Glove Aims for VR Touch Sensation

Mark Zuckerberg, who co-founded Facebook in 2004 and is now its CEO and controlling shareholder, announced that the company has changed its name to Meta Platforms Inc. (doing business as Meta), reflecting its pursuit of growth opportunities in the VR and AR realms known as the metaverse. As of December 1, the company will trade as MVRS on the Nasdaq exchange, retiring the FB ticker symbol that took a long ride from a first-day close of $38.23 per share on May 18, 2012, to close at $316 on October 28, the day Zuckerberg announced the new name at the Facebook Connect developer’s conference. Continue reading Meta: Facebook Blasts Off for the Metaverse with New Name

TikTok parent company ByteDance has acquired startup Pico, which, according to IDC, was the third largest virtual reality headset manufacturer worldwide in Q1 2021, with shipments growing 44.7. percent year-over-year. The purchase marks ByteDance’s first step into virtual reality and the company said that Pico’s “comprehensive suite of software and hardware technologies, as well as the talent and deep expertise of the team, will support both our entry to the VR space and long-term investment in this emerging field.” Continue reading ByteDance Buys Startup Pico, Virtual Reality Headset Maker

During the COVID-19 pandemic, IDC reported that Facebook sold more Oculus Quest 2 VR headsets than before. Now Facebook offers Quest 2 owners Horizon Workrooms, a free VR service that offers virtual meeting rooms. Users can participate with a customized cartoon avatar and the room offers virtual white boards for drawing and writing, a step towards what chief executive Mark Zuckerberg dubs the “mixed-reality future” for its 3.5 billion users. Zuckerberg introduced Workrooms in VR with employees and reporters in attendance. Continue reading Facebook Steps into Workplace VR with Horizon Workrooms

At the Cannes Film Festival’s XR program, VeeR co-founder Jingshu Chen delivered a keynote on monetization of virtual reality, in which she referred to Gartner’s well-known Hype Cycle for Emerging Technologies. She pointed out that Facebook’s 2014 acquisition of Oculus sparked the “peak of inflated expectations,” followed by a downhill path to the “trough of disillusionment” beginning in 2017, when headset sales slumped and some VR companies pulled back. Now, she said, we could be on the upward “slope of enlightenment.” Continue reading Cinematic and Narrative Virtual Reality Tech Moving Forward

At ViveCon 2021, HTC debuted two new Vive virtual reality headsets, the HTC Vive Pro 2, which connects to the PC, and the standalone HTC Vive Focus 3. The company, which teamed with Valve to make its first Vive headset in 2015, has seen the VR business explode in numerous markets served by its Vive Pro and Vive Focus, aimed at enterprise markets and debuting in 2018.  The new headsets feature 5K resolution, a 120-degree field of view and RGB sub-pixels. The Vive Pro 2 will go on sale June 4 and Vive Focus 3 on June 27. Continue reading HTC Vive Targeting Enterprise Market with New VR Headsets

With the COVID-19 pandemic, use of Zoom and other platforms enabling remote collaboration has skyrocketed. Now, Spatial Systems, a holographic platform for augmented reality and virtual reality, debuted an AR app for iOS and Android that can run on nearly any current generation mobile device. Pricey AR and VR headsets have remained out of reach for many, but there are billions of smartphones enabled for augmented reality on the market. Spatial relied on ARKit and ARCore for iOS and Android to achieve its AR and VR capabilities. Continue reading Spatial Intros Augmented Reality Platform for Mobile Devices

ILMxLAB’s virtual experience, “Star Wars: Tales from the Galaxy’s Edge,” launches today in the Oculus Quest store for $25. Critical buzz is that it is levels above ILMxLAB’s previous VR series, “Vader Immortal,” a classic story in three episodes. The new VR experience excels at immersing the user in the Star Wars universe with the freedom to play and interact in a multitude of ways and have numerous exciting experiences, including chatting with bartender Seezelslak, played by Bobby Moynihan. former cast member of “Saturday Night Live.” Continue reading ILMxLAB Debuts New Star Wars Experience for Oculus Quest

Facebook released Oculus Quest 2, a customizable VR headset priced at $299 — $100 less than its predecessor. Improved hardware includes a fast-switching LCDs with 1832×1920 resolution per eye and 50 percent more pixels than the first version. Although it doesn’t have the same black levels as the original Quest’s OLED screens, it offers support for an (eventual) 90Hz refresh rate; Quest 2 launches with a 72Hz refresh rate. In partnership with Ray-Ban, Facebook also plans to debut a pair of smartglasses in 2021. Continue reading Facebook Debuts Oculus Quest 2, Readies New Smartglasses