Meta's expensive flop: An executive reportedly told employees the company won't make a follow-up to its $1,500 'Pro' VR gadget
in 2022, according to its fourth-quarter financial results. However, Meta's Quest 2, which is more affordable than the Quest Pro, has done"quite well," according to CEO Mark Zuckerberg.the company plans to continue developing three more Quest headsets over the next four years, with a Quest 3 headset set to release later this year. The headset is expected to be thinner but more powerful and expensive than the Quest 2. the price of its Quest 2 and Quest Pro devices.
Meta did not immediately respond to Insider's request for comment and confirmation of the company's future plans.during the company's fourth-quarter earnings call with Wall Street analysts in February, Meta CFO Susan Li said that the company is committed to its investment in Reality Labs, and will continue to see losses in that division this year.to the company's plans to be more efficient.
"We're looking at the signals and learning what makes sense to do going forward," Zuckerberg said."We're constantly shifting how we execute. Other things like flattening the org structure, those are going to affect the whole company, both in Reality Labs and Family of Apps. We want the work to be more efficient."
Meta's costly push to develop its virtual and augmented reality hardware is in an effort to reach its goals of"I think people are going to look back decades from now and talk about the importance of the work that was done here,"
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