Google plans to compete in the VR-AR headset market with Meta Platforms and Apple
According to rumors, Google (GOOGL, GOOG) does not stay away from new trends. According to words, it intends to occupy a niche in the metaverse industry by releasing its own augmented/virtual reality headset (VR-AR).
According to The Verge, Google’s Labs team, which develops new products and technologies, is currently developing an augmented/virtual reality headset codenamed Project Iris, which could be released by 2024.
According to reports, the core team working on the headset is about 300 people, and Google plans to hire hundreds more.
After Meta Platforms (FB) announced its plans to “dive” into virtual reality products to create a metaverse, investor interest in this area has grown. Many technology companies, including Apple (AAPL), have been developing for a long time. Like Meta, Microsoft (MSFT) and Snap (SNAP) are already producing their AR glasses, and Google seems intent on competing.
Previously, Google attempted to release augmented reality glasses (the prototype of Google Glass was introduced back in 2012), but the product did not become mass-produced. Nevertheless, Google continued its work in this field, investing in the manufacturer of VR glasses, Magic Leap, and last year acquired the company North, which produces AR glasses.
Last year, Google announced the testing of a unique intelligent virtual cockpit that allows you to communicate through a super realistic 3D display and a system of microphones and speakers, simulating face-to-face communication. This technological development is called Project Starline and is currently used only by Google teams.
The realism of the Project Starline image is impressive, which raises high expectations for VR headsets within the framework of the Project Iris project, which has not yet to the public. However, Google has extensive cloud computing capabilities, chips, artificial intelligence, and machine learning technologies, and its teams have been working with VR-AR technologies for a long time.
The main question that investors are asking themselves is whether Google is ready to invest enough in this new industry to compete with other tech giants. Last October, Sundar Pichai, CEO of Google’s parent company Alphabet, said AR would be a “major area of investment” conference call.
We are considering the more than doubled profit of Alphabet (net income) to $55.39 billion. The money to finance these ambitious ideas. Perhaps we will hear about some plans in this area at the upcoming Google financial report for the 4th quarter of 2021, which will be on February 1 after the close of trading. Calendar of quarterly reports of US companies.
