At the Q1, 2022 earnings call, when Apple CEO Tim Cook was asked about his view of metaverse opportunity, he replied that the company sees a lot of potential in that “space”. However, his focus was on the development of AR technology rather than a metaverse experience.
Metaverse is a 3D virtual reality space that transports users into a digital world where they can carry out various activities in real-time via a headset.
Since the Epic Games vs. Apple lawsuit, the focus on creating a “metaverse” experience for consumers has become Silicon Valley’s next big obsession. Epic Games referred to its iOS game Fortnite as a metaverse, and Mark Zuckerberg changed the Facebook company name to Meta with the focus on delivering an interactive metaverse for shopping, lifestyle, entertainment, gaming, socialization, and more.
Tim Cook says Apple is investing in AR technology because it has the potential to offer incredible experiences to millions of people
Reportedly, Apple is also developing a mixed reality (AR and VR) headset which is expected to launch later this year or early 2023. The new device will not only offer an immersive gaming experience, but Apple wants to develop a complete ecosystem for its AR/VR headset with apps for music, entertainment, and more.
So, when asked about exploring the Metaverse market, Mr.Cook steered the focus of the question on AR technology which it already offers in iPhone and iPad Pro models via LiDAR scanners.
Okay. Thank you. And how are you thinking about the Metaverse opportunity and Apple’s role in that market? Katy Huberty, Morgan Stanely
Well that’s a big question. We’re a company that’s in the business of innovation. We’re always exploring new and emerging technologies and this is an area that is very interesting to us. We have 14,000 ARKit apps on the App Store, which provide incredible AR experiences for millions of people today. We see a lot of potential in this space and are investing accordingly. Tim Cook
It is also speculated that Mr. Cook is likely to oversee the development of a new product category AR/VR headset before his retirement. Previously, Mr. Cook himself has alluded to the potential of AR technology without giving any detail of a potential device.
“I’m a huge believer in augmented reality. It can enhance our conversations that we’re having, and enhance learning and really amplify the value of technology with people, without it enclosing or shutting off the real world.”
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