Meta apparently has high hopes for Project Cambria, with a leaked internal memo saying the upcoming VR headset is one of Meta’s most important investment opportunities right now.
Announced as a high-end follow-up to the hugely popular Meta Quest 2 (previously called the Oculus Quest 2), the Cambria will come with all-new AR and face tracking features. While it will likely still be used for gaming, Meta appears to be rolling it out for more business and industry-focused uses, a gamble that will need to pay off (via Reuters (opens in new tab)).
That’s because Meta has been going through a tough time recently, financially speaking. After announcing that Facebook saw its first drop in the number of daily users earlier this year, its share prices also dropped. That drop was further impacted by general economic downturns that CEO Mark Zuckerberg predicts could be “one of the worst” in recent history. In response to this, Meta has canceled several projects like its rival Apple Watch, cut jobs and hiring, and focused its efforts on what it believes are its most important opportunities.
Along with Cambria, Meta is also looking to improve Reels – its TikTok-like short-form video content – with the aim of improving its discoverability and running ads alongside it to increase revenue.
As for its VR efforts, we still haven’t seen what Cambria is capable of, but recent rumors make it seem like a solid improvement on what Quest 2 offers. However, it will likely cost a lot more, with a price tag of at least $800 (about £665 / AU$1,175) expected by many analysts.
Given its high price tag, companies will need to be convinced that Meta’s new device is essential for improving workplace productivity, or it could be a major shift and failure for the social media giant. Gamers can jump in and help enjoy the slack – taking advantage of the improved hardware to play the best VR games available – but they can also be put off for a price that’s likely to be more than double the cost of the Quest 2.
With a 2022 release date on the cards, we probably won’t have long to wait before Meta properly reveals what your headset can do – and then we can all decide whether or not it’s a worthwhile investment.