Meta Platforms Inc. GOAL CEO Mark Zuckerbergis reportedly heading to South Korea to discuss a possible partnership with LG Electronics Inc.. (OTC: LGEIY) (OTC: LGEJY) for a new extended reality or XR headset.
What happened: Zuckerberg to meet with LG CEO Cho Joo-wan in Seoul on February 28 to discuss the joint development and launch of an XR headset, reported Korean economic daily on Sunday.
This visit marks Zuckerberg's first trip to South Korea in a decade and focuses primarily on the XR headphones.
The companies are expected to officially announce their partnership for the joint development of the XR headphones. Product launch is planned for the first half of 2025, possibly exceeding apple first generation mixed reality headset Vision Proin terms of performance.
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The XR sector encompasses virtual reality, augmented reality and mixed reality. Users of XR devices can experience three-dimensional virtual worlds for virtual meetings and live translated subtitles from foreign languages.
LG has reportedly asked Meta to use the operating system for its smart device or the operating system for the XR headphones. The operating system, which is expected to generate more than $750.5 million in advertising fees from app developers, offers games, language education and news content.
If integrated with Meta's XR headphones, LG's operating system is expected to significantly boost its sales, the report notes.
Because it is important: Earlier this month, Zuckerberg compared Meta's Quest 3 to Apple's Vision Pro, stating that the former is not only better in terms of value but also as an overall product.
Despite the initial excitement surrounding the launch of the Apple Vision Pro, some buyers are now returning the $3,500 mixed reality headset, citing several issues. One of the main reasons for returns is the design of the headphones, which some users find cumbersome.
They say that wearing the device for long periods is uncomfortable and that its weight is noticeable enough to be a burden.
In January it was reported that Google and Samsung are planning to use from Qualcomm new chip to create AR and VR experiences, potentially competing with Meta and Apple in the headset market.
The global XR device market is expected to grow to $35.7 billion by 2026, and the XR headset sector is expected to be dominated by three players: Apple, the Meta-LG alliance, and the Samsung-Google-Qualcomm alliances. .
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Disclaimer: This content was partially produced with the help of Neuro Benzinga and was reviewed and published by Benzinga editors.
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