Mark Zuckerberg’s metaverse pivot is off to slow start. The company now known as Meta lost just over $10 billion on its Reality Labs division in 2021, according to its fourth-quarter earnings report.
“This fully realized vision is still a ways off,” Zuckerberg said of Meta’s metaverse investments. “And although the direction is clear, our path ahead is not yet perfectly defined.” Zuckerberg said the company planned to launch a new “high-end” VR headset as well as a mobile version of its Horizon VR experience.
It’s the first time the company has shared the financial performance of the AR and VR division that’s central to its metaverse ambitions. That the metaverse isn’t yet turning a profit isn’t a surprise. The company said that its AR and VR investments would result in a $10 billion loss for the company. But combined with flat user growth and continued hits to…
