Meta Quest 3 didn’t get off to the best start

According to noted TF International Securities analyst Ming-Chi Kuo, Meta Quest 3 hasn’t had a particularly strong launch.

In a recent Medium post, he suggests that the headset’s sales forecast has fallen due to lower-than-expected sales.

My latest poll shows that Meta has lowered its 4Q23 Quest 3 shipping forecast by 510%. Min-Chi Kuo writes.

Metas’ recent call was consistent with my earlier predictions of an increase in Reality Labs’ losses. However, after Metas recent update of the Quest 3 shipment forecast for 4Q231Q24, the situation is getting worse than I anticipated.

He also suggests that Apple’s upcoming Vision Pro headsets are at least 23 years ahead of the Metas Quest in terms of technology, but it all helps with the ambitions of these VR units.

The Meta Quest 3 is a popular VR headset for the average person and family, the Apple Vision Pro tries to rewrite the rule book and become a wearable computer you can use for work. It is priced at $3,000 or more.

Maybe this is part of Meta Quest 3s theme. It’s a continuation of the Quest 2 mold, and most people who own such a headset may not feel the new model is worth the upgrade. Not at $499 anyway.

Meta’s augmented reality and virtual reality division, Reality Labs, loses billions of dollars every quarter. It lost a reported $3.7 billion in the third quarter of 2023, and is down $46.5 billion since the company’s Metaverse expansion began in 2019.

Meta has sold over 20 million headsets to date, 18 million of which were from Meta Quest 2.

The previous version of the Quest 3s was very successful considering that VR isn’t really a mainstream offering on standard game consoles. But the market hasn’t expanded as Meta clearly hoped.

In May, The Washington Post reported that a significant portion of Quest users let the headset collect dust after just a few weeks.

Mixed News also noticed a drop in app ratings in the Quest Store at the end of July, a sign of waning interest in the platform overall.

Notable upcoming releases for the Oculus platform include Assassins Creed Nexus, Stranger Things VR, and PowerWash Simulator VR, all coming in November 2023. Still, that hasn’t stopped the notion that Oculus has no reason to keep coming back to the headset.

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