LG’s ambitious plans to develop an extended reality (XR) device in collaboration with Meta have hit a roadblock just three months after the announcement of the joint venture. Reports from Korean news outlets suggest that the partnership has encountered difficulties due to a lack of “synergy” between the two companies. While LG has denied terminating the deal entirely, it is clear that the project is facing challenges.
Despite LG’s statement affirming the continuation of the XR partnership with Meta, there is uncertainty surrounding the current status of the collaboration. Reports indicate that the project is still ongoing but with a potential release date pushed back to 2027. Adding to the confusion, there are claims that LG is exploring a new partnership with Amazon for an XR headset, leveraging Amazon Prime’s vast library of streaming content and subscriber base.
The reported pause in the LG-Meta partnership comes at a time when Meta is grappling with financial challenges in its AR and VR businesses. Reports indicate that Meta’s Reality Labs has been incurring significant losses, with a billion dollars being burned every month since June 2022. Despite these mounting losses, Meta remains committed to its product development efforts and ecosystem expansion, anticipating further financial setbacks in the coming years.
The difficulties faced by LG and Meta are reflective of the broader struggles within the VR/AR product industry. Consumer interest in these technologies has been waning, posing a significant challenge for companies operating in this space. The evolving landscape of XR devices and the competitive pressures in the market have further complicated the prospects for success.
The future of LG’s XR device remains uncertain as the partnership with Meta faces challenges and potential restructuring. The evolving dynamics within the industry, compounded by Meta’s financial struggles, highlight the complexities of developing cutting-edge technologies in a rapidly changing market. As LG and Meta navigate these challenges, the roadmap for their XR device will require careful consideration and strategic decision-making to ensure its viability in the competitive landscape of mixed reality devices.
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