Apple has reportedly stopped work on the next high-end version of its Vision Pro augmented reality headset and is focusing instead on developing a cheaper model.
According to media reports, Apple has found that the Vision Pro’s current entry price of $3,499 U.S. is too steep and proving to be a barrier for consumers.
Industry analysts expect that Apple will sell fewer than 500,000 Vison Pro units this year as consumers seek out cheaper alternatives, such as Meta Platforms’ (META) competing Quest device, which has a starting price of $499.99 U.S.
Apple is now planning to focus on entering the lower end of the augmented reality headset market.
Media reports state that Apple plans to release a cheaper version of its Vision Pro device with fewer features by the end of 2025.
Meta Platforms remains the global leader in the mixed-reality headset market, with its latest Quest 3 device selling extremely well.
Apple’s Vision Pro has been criticized for more than its price. Reviews have also criticized the device over its lack of applications and weak battery life.
Apple said at its recent Worldwide Developers Conference that it plans to launch the Vision Pro in eight additional countries later this year, potentially expanding its user base for future devices.
The stock of Apple has risen 16% over the last 12 months and currently trades at $214.29 U.S. per share.
Meta’s stock has increased 76% over the past year and trades at $499.49 U.S.
