Recent reports have indicated that LG is pausing its collaboration with Meta to develop an extended reality (XR) device, intended to compete with Apple’s Vision Pro headset. The joint venture was announced just three months prior, but according to Korean news outlets, the partnership has hit a roadblock due to a lack of synergy between the two companies. While LG denies completely terminating the deal, it has stated that it is slowing down the pace of the XR partnership with Meta.
The collaboration was set to integrate Meta’s Horizon Worlds mixed reality platform with content and service capabilities from LG’s TV business. Additionally, there were discussions about incorporating on-device AI integration using Meta’s language models. Despite conflicting reports, some publications suggest that LG may be exploring a new XR headset partnership with Amazon, leveraging Amazon Prime’s vast library of streaming content and extensive subscriber base.
Meta, formerly known as Facebook, is facing its own challenges in the AR and VR market. Reports indicate that Reality Labs, the division responsible for these technologies, has been losing a substantial amount of money each month. Despite these losses, Meta remains committed to developing its products and expanding its ecosystem, anticipating significant year-over-year increases in expenditures.
The difficulties faced by Meta and LG are indicative of larger issues within the VR/AR product industry. Consumer interest in these technologies seems to be waning, posing a significant challenge for companies investing in the development of these devices. The future of the XR device partnership between LG and Meta remains uncertain, with conflicting reports about the status of the collaboration and potential alternative partnerships in the works.
The XR device market is a dynamic and competitive space, with companies like LG and Meta navigating challenges as they work to bring innovative products to consumers. The evolving nature of technology and consumer preferences requires companies to adapt quickly and make strategic decisions to remain relevant in this fast-paced industry. The future of the LG-Meta partnership will depend on their ability to address internal and external challenges, while also considering the broader market trends shaping the VR/AR landscape.
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