Meta Reality Labs is the division that develops various virtual, mixed and augmented reality initiatives to make Mark Zuckerberg's metacity dreams come true. In its financial announcement for the last quarter, Reality Labs posted a loss of $4.65 billion (~RM22 billion) despite generating revenue of $1 billion higher than the original target.
Since 2020, Reality Lab has posted losses totaling $42 billion (~RM 199 billion) due to heavy investments into the development of the Meta Quest headset, various controllers, the development of virtual technology and the success of Meta Horizon Worlds. Despite being launched for over two years, it only has 300,000 users. This is far less than Threads which has 130 million monthly users despite being only a year old.
Meta is yet to wave the white flag with Zuckerberg optimistic that Apple Vision Pro sales will also drive Meta Quest sales. But several reports that have emerged since last year say that Zuckerberg's focus is now moving to artificial intelligence (AI) which is seen as more profitable than metamesta.
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BUSINESS & MONEY