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Meta* has split the XR division into two business groups. Some people have been laid off

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.

News February 2

The quarterly revenue of the XR division of Meta* exceeded $1 billion for the first time, but it still has losses

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.

News July 27, 2023

Meta* lost another $7.73 billion on its XR division

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.

News April 27, 2023

During the year, the losses of the XR division of Meta* increased by more than a third

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.

News April 20, 2023

Media: dismissals in Meta* affected game studios

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.

News February 2, 2023

In 2022, Meta* lost $13.7 billion on the XR division

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.

News December 20, 2022

Meta*: Half of Reality Labs’ operating expenses are related to augmented reality

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

News July 28, 2022

In six months, Meta* lost $5.76 billion on its XR division

Meta* has released a fresh financial report, in which, among other things, it told about the losses of Reality Labs. According to the corporation, the losses of the XR division for the first half of 2022 amounted to $5.76 billion — 35.4% more than a year ago.

Investments and transactions December 23, 2021

Godot Engine received a new grant from Reality Labs, the XR division of Meta

The developers of the free Godot engine have received a new grant for an undisclosed amount from Reality Labs. The funds will be used to develop additional features to support AR and VR games.At the same time, the authors of Godot Engine shared their plans for the development of the XR direction for 2022: