Apple’s entry into VR is a ‘watershed moment,’ say top industry execs

Meta, formerly known as Facebook, has staked its whole future on the idea that people will engage in virtual worlds through VR products like its Meta Quest line of headsets and Horizon Worlds VR social game, in a network of vast virtual worlds known as the “metaverse.”

Research group NPD Group told CNBC last December that sales of VR headsets in the U.S. declined 2% in 2022 from a year earlier, to $1.1 billion. It signifies how mixed reality is likely to have more viable use cases in the business-facing side of things, said Urho Konttori, chief technology officer of Finnish Varjo, in an emailed comment.

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Apple's entry into VR with its new headset is a 'watershed moment,' say top industry execsCher Wang, Taiwanese tech giant HTC's CEO, told CNBC that she sees Apple's move as a validation for the industry, calling it a 'watershed moment.'
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