Meta Quest 3 sales forecast forecasts were lowered by industry analyst

Editor’s note: The data provided by Ming-Chi Kuo in the original Medium report is a personal prediction based on their own data. Keep in mind that this could be incorrect and Meta has yet to comment on the actual figures for Meta Quest 3.

Hype has been steadily building for its impending arrival Meta Quest 3but an industry analyst has poured cold water on the impending launch with some shocking claims about expected sales figures for the VR headset.

It looks like Meta Quest 3 may be on track to sell far fewer units than its predecessor, Meta Quest 2, in a shocking reveal that cuts the hype considerably.

Meta has been preparing for Meta Quest 3’s release date for some time with a drip feed of promotional videos and new details about the headset. The tech company is clearly keen to improve upon the shortcomings of Meta Quest 2 with its successor.

The Quest 3 is 40% smaller than its predecessor, though no lighter, with twice the processing power and 30% “better” resolution. It’s also more expensive, especially given the Quest 2’s recent price drop.

According to TF International Securities analyst Ming-Chi Kuo, early indications are that consumers are not convinced by the Quest 3. In fact, his Medium piece paints a picture of declining demand for head-mounted displays and the metaverse in general.

According to the analyst, “the initial shipment forecast for Quest 3 in 2H23 was set at more than 7 million units. However, due to weak forecasted demand, the current shipment forecast for 2H23 has been lowered to between 2 and 2.5 million units, with Shipments in 2024 are estimated to be around 1 million units.

Sales of 5 million units less than projected in 2023 would certainly be a disaster for Meta. The picture for 2024 is no rosier either, as shipments for the entire year are said to be estimated at just one million. Ming-Chi Kuo further speculates that “potential losses for the HMD/metaverse hardware business may exceed expectations and attract investors’ attention.”

These dire predictions may have prompted Meta’s recent firing, reported by Reuters. 4,000 jobs are reportedly being cut across various Meta teams, including Facebook, Instagram and Reality Labs – which is responsible for virtual reality technology.

However, the future of virtual reality seems uncertain. Despite Mark Zuckerberg being a big fan of VR and the Metaverse, consumers seem unconvinced of his vision so far.

Meta Quest 3 is coming soon, so be sure to head over to our website for our full review. If you’re considering picking up a Quest 3, be sure to check out our list of the best VR games so you’ll have plenty to cram into when your shiny new headset arrives.

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