Meta Platforms (META, Financial) is planning to upgrade its Ray-Ban smart glasses, in collaboration with EssilorLuxottica, by adding a display to show notifications and replies from the Meta virtual assistant. The enhanced version is expected to be released in the second half of next year, as Meta accelerates its wearable device initiatives alongside competitors like Apple (AAPL), Google (GOOGL), and Snap (SNAP).
Despite ongoing losses in Meta's Reality Labs, which produces smart glasses and Quest VR headsets, the Ray-Ban smart glasses have surprisingly gained consumer popularity. According to EssilorLuxottica's CEO, the latest generation launched in October 2023 surpassed the previous generation's two-year sales within months. Market data indicates a 73% growth in wearable glasses shipments by 2024.
While Meta plans to further develop its AR glasses, Orion, the challenge remains in producing affordable and high-performance AR fashion glasses, given the current high cost of the silicon carbide lenses used in Orion.
