The Cost Surge
Despite being one of the most well-known and ambitious businesses in the world, META, formerly known as Facebook, is not immune to bigger economic problems. The business said it was surging up the cost of its Quest VR headsets on the same day press pieces exposed the breadth of Meta’s recent cost-cutting measures.
It’s a notable development in a sector where the cost of products often decreases as technology improves. Another possible obstacle in Meta’s effort to encourage more people to use virtual reality is the increased price of one of the most well-liked VR headsets on the market.
The cost of the two Meta Quest 2 VR headset setups will increase by 100 USD each starting in August. The price of the 256 GB variant will be 500 USD, while the 128 GB model will cost 400 USD. Up until the end of the year, the headsets will come with a free download of the 30 USD popular game Beat Saber. This brings the cost of the Meta Quest 2 headset closer to that of the 549 USD HP Reverb G2 and the 599 USD starting price for the headset alone of the HTC Vive Pro (sans hand controllers).
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Zuck’s Long-Term Vision
The company is adjusting the price of their Meta Quest 2 headsets to enable them to continue investing in ways that will keep driving this increasingly competitive industry forward for consumers and developers alike, according to a spokesperson for Meta. That spokesperson also claimed that the company has invested billions of dollars in the VR ecosystem.
As it—and other digital companies—adjust to shifts in the ad business and prepare for a potential recession, The Meta Quest’s pricing change indicates a reassessment of the company’s metaverse strategy. Mark Zuckerberg, the creator, and CEO of Meta has made it plain that he sees virtual reality as a long-term investment. In its metaverse initiatives, Meta announced it will invest 10 billion USD last year. The unit has been losing money ever since. Meta reported a loss of about 3 billion USD for its metaverse segment in its first-quarter 2022 earnings while spending more than 10 billion USD on VR in just 2021.
Source: https://www.thecoinrepublic.com/2022/07/29/rising-meta-prices-crushing-dreams/