The corporation released its financial report for the third quarter of 2024, which ended on September 30. Its XR division, Reality Labs, continues to incur substantial losses.

Meta* Corporation has closed the American studio Ready At Dawn. It was dissolved after over 20 years of operation.

Meta Corporation* has restructured the Reality Labs division, which focuses on mixed reality technologies. It has split it into two business groups: Metaverse and Wearables.

Meta* Corporation has announced a major change in its business strategy related to virtual reality. She began licensing the Meta* Horizon OS operating system to other VR headset manufacturers.

Meta Corporation* has published its financial report for the fourth quarter of 2023, which ended on December 31. She said that thanks to strong sales of the new Quest 3 VR headset, her Reality Labs division managed to earn a record $1.07 billion.

The losses of Reality Labs, the XR division of Meta*, continue to grow. In the first half of 2023, they amounted to $7.73 billion. This is $1.9 billion more than in 2022.

The Reality Labs division working on augmented reality technologies remains unprofitable for Meta*. In a recent financial report, the company said that the losses of Reality Labs for the first quarter of 2023 amounted to $3.99 billion – 34.8% more than last year.

On April 19, Meta* conducted a new round of layoffs, according to the Game Developer portal. Among others, employees of the XR division of Reality Labs, including developers from the game studios Downpour Interactive and Ready at Dawn, were cut.

American Senators Edward Markey and Richard Blumenthal are concerned that Meta* is rumored to want to expand the audience of Horizon Worlds and let teenagers into its metaverse. They turned to Mark Zuckerberg and called for the plans to be immediately curtailed.

According to The Verge, this figure was named by the vice president of the VR direction Meta* Mark Rabkin during a presentation for employees.

The US Federal Trade Commission (FTC) failed to block a deal between Meta* and Within Unlimited. The District Court of California allowed the company to buy the developers of the Supernatural VR game, Bloomberg reports, citing sources.

Ambitions to create a metaverse are expensive for Meta*. In the latest financial report, the company reported that the losses of the Reality Labs division for 2022 amounted to $13.717 billion, which is 34.5% more than a year ago.

On December 20, Mark Zuckerberg appeared in court in the case of the purchase of the VR developer Within Unlimited. The head of Meta* tried to prove that this deal would not make his company a monopolist in the nascent market of fitness games for virtual reality.

Andrew Bosworth, technical director of Meta*, wrote a post on the company’s blog about the work of the Reality Labs division.

The head of Meta* criticized Apple‘s policy. In his opinion, the company controls the App Store and iOS too much.

Mark Zuckerberg announced that he is going to cut 13% of the Meta* staff and extend the moratorium on hiring new employees until the end of the first quarter of 2023. He called this decision difficult and took full responsibility for the current situation.

The company claims that the US Federal Trade Commission (FTC) in the lawsuit is guided by assumptions and “ignores the facts with the law.”

Meta* boasted about the achievements of the store at the Connect 2022 conference. She said that to date, every third game from the Quest Store library has earned at least $ 1 million, and the revenue of 33 projects has exceeded $ 10 million.

The Meta company banned in Russia has announced the purchase of three game development studios at once. The amount and terms of the transactions were not disclosed.