No pressure Steam Frame: Meta’s mixed reality division is still haemorrhaging money, losing $4.6 billion in its second quarter of the year
Meta’s Reality Labs division, which develops virtual and mixed-reality products, recorded a $4.6 billion loss in the second quarter. The result underlines the scale of Meta’s continuing investment in immersive technology as it faces potential competition from Valve’s reported Steam Frame headset.
The loss was reported alongside Meta’s quarterly financial results and reflects the high costs of developing hardware, software and related technologies. Reality Labs has repeatedly operated at a loss, despite products such as Quest headsets, while Meta continues to fund its longer-term mixed-reality ambitions.
- Meta’s Reality Labs lost $4.6 billion in one quarter.
- Mixed-reality development remains a costly long-term bet.
- Valve’s reported headset could increase competitive pressure.