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Meta is making significant strides in its endeavor to dominate the world of augmented reality with the innovative Meta Quest 3. Revealed by CEO Mark Zuckerberg at the virtual Meta Connect event on Wednesday, this headset represents a complete redesign of its predecessors and is priced at $500. The Quest 3, initially announced in June, offers enhanced performance, immersive mixed-reality features, and a sleeker, more comfortable design.

Boasting a substantially more powerful processor, a higher-resolution display, revamped Touch Plus controllers, and a 40% slimmer profile, the Quest 3 is a major improvement over previous models. While the Meta Quest 2 solely caters to virtual reality, the Meta Quest Pro incorporates advanced passthrough cameras to enable users to experience their physical surroundings; however, this option comes at a hefty price tag of $1,000.

The release of Meta's latest headset follows three years after the Quest 2, less than a year after the Quest Pro, and less than four months after the launch of Apple's Vision Pro.

Referred to by Zuckerberg as the "first mainstream mixed reality headset," the Quest 3 marks a crucial battleground for two of the tech industry's giants vying for dominance in the headset market. Moreover, it aligns with Zuckerberg's personal vision of ushering in a next-generation internet, where individuals can interact in virtual spaces closely resembling real life. Notably, the Quest 3 is significantly more affordable than Apple's alternative, priced at a staggering $3,499, making it primarily a virtual reality headset with augmented reality capabilities, while Apple's product offers a dedicated mixed reality experience.

In an attempt to preempt Apple's June announcement of the Vision Pro, Zuckerberg strategically teased the Meta Quest 3 just days before its competitor's major reveal. However, tensions between the two companies predate Apple's foray into this market. They have previously competed over news and messaging features, while their CEOs have exchanged criticisms on issues such as data privacy and app store policies. In fact, Meta announced last February that it expected to incur a $10 billion blow in 2022 due to Apple's decision to limit the collection of data for targeted ads on platforms like Facebook.

Although Meta has maintained its dominance in the headset market thus far, it has faced challenges in attracting a mainstream audience for its VR headset products. The Wall Street Journal reported last year that Meta's VR socializing app, Horizon Worlds, had only 200,000 active users. Additionally, it is worth noting that IDC estimates global shipments of AR/VR headsets across the entire market will reach a mere 10.1 million in 2023, significantly lower than the tens of millions of iPhones Apple sells each quarter.

Following Apple's announcement of the Vision Pro in June, analysts at Morgan Stanley lauded it as a "moonshot" effort, suggesting that the product could potentially become Apple's next major computing platform. However, they also emphasized that the company still has much to prove before the headset's scheduled launch next year.

Interestingly, the most significant battle might not be between Meta and Apple but rather between the various players in the ever-evolving world of AR and VR technology. Interestingly, the most significant battle might not be between Meta and Apple but rather between the various players in the ever-evolving world of AR and VR technolo