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Mark Zuckerberg Unveils Meta Quest 3 VR Headset Priced at $499, Shares Jump 3%

Meta Platforms Inc (NASDAQ: META) Chief Executive Officer Mark Zuckerberg unveiled the company’s next-generation virtual and mixed reality headset dubbed Meta Quest 3. According to the announcement, Meta Quest 3 is an upgrade of its predecessor with higher resolution, stronger performance, and much more Meta Reality technology. The company noted that the Meta Quest 3 is expected to hit the market later this year at a starting price of $499 for the 128 GB headset.

Meanwhile, the company added that it will offer additional storage at an undisclosed fee. The company teased that more details will be released during this year’s Meta Connect which is scheduled on September 27.

According to the company, Meta Quest 3 has combined the highest resolution display and pancake optics to offer the best content quality for its users. Furthermore, Meta Quest 3 has featured the next-generation Snapdragon chipset developed in collaboration with Qualcomm Incorporated (NASDAQ: QCOM). For comparison purposes, the Meta Quest 3 has more than twice the graphics performance of the Snapdragon GPU in Quest 2.

“Now you can play a virtual board game on your kitchen table with Demeo, decorate your living room with virtual art courtesy of Painting VR, or dive into a fully immersive world to do things that are simply not possible otherwise,” the company noted.

Compared to Quest 2, the new Meta Quest 3 comes with a 49 percent slimmer optic profile, thus a more comfortable headset for users. Notably, the company also redesigned Quest 3’s Touch Plus controllers with a more streamlined and ergonomic form factor. To immerse the users even more in the gaming world, Meta included TruTouch haptics that first debuted in Touch Pro. In addition to new library content, Meta Quest 3 is, ostensibly, compatible with the Quest 2 catalog of over 500 VR games, and applications.

Following the announcement, Meta Platforms shares closed Thursday trading at $272.61, up 2.98 percent from the day’s opening price. The $678.52 billion valued company has seen its stock market rally approximately 126 percent YTD, according to the latest market data.

The launch of Quest 3 is a huge boost to the company’s VR products amid huge competition for Apple Inc (NASDAQ: AAPL).

Moreover, Apple is also slated to launch its VT headset next week as part of June’s WWDC event. Meanwhile, Meta announced that it has lowered the price of Quest 2 to $299.99 for the 128GB SKU and $349.99 for the 256GB SKU. Additionally, the company noted that the Quest 2 is slated to get a software update to spice up the user experience.

“Quest 2 and Quest Pro GPU and CPU. Quest 2 and Pro will see an up-to 26% CPU performance increase with an up-to 19% GPU speed increase for Quest 2 and 11% for Quest Pro,” the company noted.

Mark Zuckerberg Unveils Meta Quest 3 VR Headset Priced at $499, Shares Jump 3%

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