Meta hopes that its new Vision Pro device will boost its $50 billion metaverse project, which relies on the Quest platform as was Android

Meta, the parent company of Facebook, has spent at least $50 billion on its Reality Labs hardware division since acquiring Oculus VR in 2014.

However, the company's Reality Labs division accounts for less than 1% of overall revenue and has struggled to expand beyond a niche market.

Reality Labs is expected to lose $115 billion between now and 2030, according to FBB Capital Partners.

Meta executives are optimistic about the competition from Apple's entry into the headset market with the Vision Pro, believing it will validate the market and draw more consumers.

Meta sees its Quest devices and software ecosystem as a primary alternative to Apple in the headset space, similar to the role played by Google’s Android in smartphones.

The battle between the two companies is expected to center on software makers and the development of applications that will draw more users.

Meta is increasingly focusing on mixed reality, while Apple's Vision Pro is launching with augmented reality as its focus.

Meta has shifted its Quest devices away from being entirely focused on virtual reality and incorporating more so-called pass-through abilities, which give users clear images of their surroundings.

Apple's Vision Pro is priced at $3,500, while Meta's Quest 3 is significantly more affordable at $500.

Apple's approach to headset technology differs from Meta's, with the Vision Pro promoting tasks and apps that consumers are already used to, while Meta's Quest Store is primarily made up of videogame, fitness and virtual social apps.

Some developers are designing their headset apps to reduce their reliance on controllers, with Apple's device using infrastructure similar to that of the iPhone and iPad, making it easier for software developers to build apps for the Vision Pro.