As Summer quickly approaches and significant events are set to continue the ever-evolving path of XR, the industry and its players are working to keep themselves above water and the competition.
The industry is undergoing tremendous growth, and the future of immersive workplace solutions will depend on today’s innovations and actions.
With Q1 reports incoming, XR firms are reflecting on success and failure to achieve a market lead by 2025.
Reality Labs Again Records a Mixed Performance, Zuckerberg Banks on AR andAI
Big week for Meta…
Meta has released its Q1 earnings report, indicating a rise in general capital and operational growth. However, the report also highlights a continuing monetary loss for the company’s Reality Labs research and development division. Meta is committed to its immersive product portfolio and has recently released significant hardware and software updates just before the report’s release.
Meta’s Q1 total revenue was $36.5 billion, a 27% increase in both reported and constant currency. However, its Q1 total expenses were $22.6 billion, a 6% increase from the previous year.
Meta currently has around 69,300 employees, a 3% increase from the previous quarter. The company’s Q1 operating income was $13.8 billion, representing a 38% operating margin. Meta’s capital expenditures, including principal payments on finance leases, were $6.7 billion, driven by investments in servers, data centres, and network infrastructure.
Reality Labs, Meta’s XR division, reported a Q1 revenue of $440 million, up 30%, mainly due to Quest headset sales. However, Reality Labs’ operating loss was $3.8 billion, and its expenses were $4.3 billion, down 1% from the previous year. The higher headcount-related expenditures were more than offset by lapping inventory-related valuation adjustments and restructuring costs.
Furthermore, Reality Labs’ operations affected Meta’s overall cost of revenue, increasing it by 9%. This was partly due to higher infrastructure-related costs, partially offset by lapping Reality Labs inventory-related valuation adjustments. R&D increased by 6%, driven mainly by higher headcount-related expenses and infrastructure costs, partially offset by lower restructuring costs.
The CEO of Meta, Mark Zuckerberg, noted the success of Reality Labs is “clearest when you look at [smart] glasses.” The CEO also remarked how he thought AR glasses wouldn’t be a “mainstream product until we had full holographic displays — and I still think that will be awesome and is a mature state of the product.”
Mark Zuckerberg has recently commented on the new Ray Ban smart glasses designs and features Meta has introduced. While the latest designs do not bring groundbreaking features, they have a sleeker design that aims to drive consumer adoption of the AR-lite device.
The second-generation smart glasses are expanding right in time for the summer season with three new frames. The new Skyler frames are suitable for smaller faces, while the Headliner frames with a low bridge cater to wearers who find glasses sitting too low on their faces.
Additionally, Meta is releasing a limited-edition Ray-Ban Meta smart glasses, exclusively for the Scuderia Ferrari colourway in Miami 2024. The new smart glasses are available for pre-order in 15 regions, covering the US, Canada, Australia, and Europe.
Meta has opened its Meta Horizon OS, which powers the Quest product portfolio, to third-party developers. This move allows a broader range of developers to create applications for the company’s XR products.
Meta’s open approach contrasts Apple’s walled garden ecosystem, which supports its spatial computing vision. While Apple’s approach is straightforward and focuses on its hardware ecosystem, Meta’s approach is more customizable and tailored to specific solutions. This approach makes sense for Meta as it expands its product reach through partnerships with companies like LG.
In addition to opening its OS to third-party developers, Meta has launched a revamped storefront called the “Meta Horizon Store.” This store aims to provide a home for future open Quest applications.
Haptx to Advance Research into Haptic Solutions for Visually Impaired Groups
This week, HaptX gained a Phase 1 Small Business Technology Transfer program grant from the U.S. Department of Health and Human Services, National Institutes of Health, and National Eye Institute to advance research into haptic solutions to provide accessible XR applications for visually impaired groups.
HaptX Founder and CEO Jake Rubin added:
Our research team will explore solutions that can significantly improve digital experiences for visually impaired people. By unlocking access to the vast array of content previously inaccessible to people with limited sight, this project intends to make digital inclusivity a tangible reality.
HaptX is leading research with Old Dominion University (ODU) and Georgia Institute of Technology, which also receive investments from the funding round. The study is focused on providing precise fingertip rendering of virtual braille content using HaptX’s microfluidic actuation haptics technology.
The broader research team will utilize this haptic technology and software algorithms to map the braille virtual content as touch-based feedback. The research is not just targeted towards visually impaired groups but also aims to provide usage in work environments. The team believes this research could create increased immersion when interacting with virtual charts, figures, and topographic maps, unlocking educational and enterprise use cases.
Siemens, BILT Leverage Apple Vision Pro for Frontline Workers
Siemens and BILT have partnered to develop the 3D Intelligent Instructions solution, which helps electricians with XR instructional overlays through Apple Vision Pro headsets. BILT has joined Siemens’ Xcelerator Ecosystem, which is dedicated to scaling enterprise XR solutions.
Andreas Matthé, CEO of Electrical Products at Siemens Smart Infrastructure, said this partnership shows how digitalization can be maximized to empower the next generation of electricians. The solution provides immersive and visual training to help those entering the workforce or those who want to learn new skills.
To interact with virtual objects, BILT’s Vision Pro solution enables frontline workers to collaborate on digital twins using ultra-high-resolution displays, eye tracking, hand tracking, and voice commands.
“Siemens is an industry innovator”, remarked Nate Henderson, Chairman & CEO of BILT, who explained that the partnership allows Siemens’ frontline professionals to “upskill faster, install with confidence, and follow safety guidelines more easily-BILT for Apple Vision Pro enables them to provide tactical and intuitive training that fits the needs of a new generation of learners.”
The platform enables workers to access animated step-by-step assembly instructions and other asset integration tools through interaction with digital twins.
Apple WWDC ’24 to be an XR Showcase?
Apple’s annual Worldwide Developers Conference (WWDC) is approaching. The event will feature the latest products, some of which have the potential to be paradigm-shifting. This year’s WWDC is scheduled from June 10th to June 14th, 2024. Apple will hold an in-person keynote showcase that will be widely publicized, followed by three days of virtual content for developers to learn about the latest updates.
One product likely to be highlighted during the event is the Vision Pro and its spatial computing ecosystem. Although the Vision Pro is still in its early stages, Apple is working hard to position the device as a leading XR product for both consumer and enterprise use. The device made headlines last year, but whether its latest updates capture the audience’s imagination remains to be seen and will depend on what is announced.
Apple has not yet confirmed any Vision Pro-related news for WWDC. Still, the company may introduce the device to new regional markets during the event, given its limited availability. Earlier this year, Apple’s CEO, Tim Cook, confirmed that the Vision Pro would be released in China in 2024. Apple is also planning to increase its investment in Chinese regional partners, who assist the company in creating device components and managing supply chains. This move follows Tim Cook’s visit to China due to declining iPhone sales.
This trend is not unique to Apple, as Samsung has also reported decreased smartphone sales. As a response, Samsung is increasing its investment in XR devices. According to reports, Cook has visited China three times to address declining device sales.
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