Facebook or META for the first time broke down their VR efforts. 2 years ago they lost 6BN and last year 10BN. So while on the outside it looks like Quest is a success it comes at a very costly price. They don't expect the VR market to be sustainable anytime soon for them.
"Net loss from Meta's Reality Labs, the company's augmented and virtual reality business, was $10.2 billion for the full year 2021, compared with a $6.6 billion loss the previous year. It was the first time the company had broken out this segment in its results."
"Zuckerberg had previously warned that the company's investment in this area would reduce 2021 operating profit by $10 billion and would not be profitable "any time in the near future." Reality Labs posted revenue of about $2.3 billion in 2021. The company has not made public the sales numbers for its virtual reality Quest headsets."
Shares in Facebook owner Meta fell 20% in US premarket trade today after the social media giant issued a dismal forecast, blaming Apple's privacy changes and increased competition.
www.rte.ie