Meta Platforms (META) has unveiled a cheaper version of its Quest virtual reality (VR) headset that comes with a starting price of $299 U.S.
The new “Quest 3S” headset will go on sale Oct. 15. The starting price of $299 U.S. is much lower than the $499 U.S. price of the company’s previous Quest 3 VR headset.
Management at Meta Platforms said that the new Quest can be used to watch movies, play video games, and run virtual reality fitness apps.
Meta is in competition with rival Apple (AAPL) in the market for VR headsets. Earlier this year, Apple launched its Vision Pro headset to compete against Meta’s Quest and Oculus devices.
Meta is positioning its Quest device at the low-end of the consumer market, hoping that the price sets it apart from Apple’s Vision Pro that sells for $3,499 U.S.
Executives at Meta say they plan to market the new Quest 3S as a “multitasking computer.” The company sees VR headsets as key to its virtual reality and artificial intelligence ambitions.
The stock of Meta Platforms has increased 89% in the last 12 months and currently trades at $568.31 U.S. per share.
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