Meta to partner with Magic Leap on AR technology

Meta Platforms, the parent company of Facebook, is currently negotiating with Magic Leap, an augmented reality (AR) company, to collaborate on the development of AR-based solutions. The potential deal would involve sharing intellectual property licensing and contract manufacturing, aiming to enhance Meta’s presence in the rapidly evolving AR technology sector.

Amid mounting pressure to demonstrate the results of its investments in the metaverse, Meta has been actively seeking avenues for innovation. Despite allocating substantial resources, with an annual expenditure of $10 billion on its “Reality Labs” division, the tech giant does not expect to generate profits from its metaverse projects for several more years.

Founded in 2010 and based in Plantation, Florida, Magic Leap is an AR company that develops human computing interfaces and software. According to the company, they are “helping define the enterprise metaverse as it emerges.”

With the deal, which many expect to be a multiyear agreement, Meta could leverage Magic Leap’s AR technologies, including software and hardware. Magic Leap may have another advantage for Meta: “It can produce tens of thousands of AR headsets locally each year, thanks to Mexican manufacturing partner Jabil,’ Mixed News reports.

Meta, a recent investigation has shown, is looking for ways to reduce its reliance on Chinese manufacturers for hardware production, thereby allowing it to produce more of its virtual reality (VR) headsets domestically.

Magic Leap is “excited” about mixed reality technologies

In December 2022, the CEO of Magic Leap, Peggy Johnson − in an article on the company’s website titled “What’s Next for Magic Leap” − stated that she cannot wait to show what’s next for Magic Leap over the coming year.  

Johnson stated that, in the last year, they have seen renewed excitement with mixed reality technologies, adding that “The conversation around the possibilities of the metaverse and new product announcements is exciting and strong evidence of the health of the industry.”

Johnson noted that they have also received an incredible amount of interest from across the industry to license their IP and utilize their patented manufacturing process to produce optics for others seeking to launch their own mixed-reality technology. 

“The fact that companies are asking us to do this doesn’t come as a surprise. It highlights just how hard it is to develop and manufacture AR hardware − and that our years of experience have provided us with a competitive advantage in this market.”

Peggy Johnson, Magic Leap CEO

As discussions between Meta and Magic Leap continue, the industry eagerly anticipates the unveiling of their joint efforts in the AR technology realm. With Meta’s extensive resources and Magic Leap’s expertise, this collaboration holds the potential to drive significant advancements in augmented reality and shape the future of the metaverse.

Photo Credit: Jessica Lewis (Unsplash)