In response to mounting production costs and economic challenges, Meta, the company formerly known as Facebook, has announced an increase in the price of Meta Quest 2. The move aims to bring the company’s revenues in line with the expenses of manufacturing the headsets and comes amidst a recession that has impacted Meta’s core advertising business due to Apple’s privacy push. With the price hike set to take effect on August 1, Meta believes this adjustment will enable it to continue investing in the VR market, which its CEO, Mark Zuckerberg, sees as the foundation for the metaverse, the next version of the internet.
Price Increase
Starting next month, the Price of Meta Quest 2 will see a price adjustment, with the 128GB version priced at $400 and the 256GB version at $500. Despite the increase, Meta remains confident in the demand for its headsets, even in the face of supply chain constraints. To sweeten the deal for potential buyers, every new headset purchase during this period will include a complimentary download of the popular VR rhythm game, Beat Saber. However, it’s not just the VR headsets that will be affected by the price change; Meta will also adjust the prices for accessories and refurbished units of Quest 2.
Rising Production Costs
Meta acknowledges that the expenses related to manufacturing and shipping its products have been on the rise. By adjusting the price of Meta Quest 2, the company aims to sustain its investments in groundbreaking research and the development of new products that will propel the VR industry to new heights. While the price increase may raise concerns among consumers, Meta asserts that the increase in the price of Meta Quest 2 will still retain its position as the most affordable VR headset with its feature set available on the market.
The Metaverse Vision
Under Mark Zuckerberg’s leadership, Meta has been actively investing billions to cultivate the VR market. The company firmly believes that VR will serve as the fundamental building block for the metaverse, representing the next evolutionary stage of the internet. Despite the challenges posed by the recession and the impact on its advertising business, Meta remains committed to pushing forward with their ambitious vision.
The forthcoming price adjustment for Meta Quest 2 marks a strategic decision by the company, as it navigates through economic uncertainties and strives to maintain its leadership in the VR industry. As technology enthusiasts eagerly await the future of the metaverse, Meta’s commitment to innovation through investment indicates a strong belief in the transformative potential of virtual reality.
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