Venture(US:VEMLY) Guan Cha Zhe Wang·2025-08-08 06:52Core Viewpoint - The AI glasses market is currently booming, with major players like Xiaomi and Alibaba entering the space, while XREAL, a leading AR glasses company, has not yet released its AI glasses, focusing instead on core technological advancements and product differentiation [1][2]. Company Overview - XREAL was founded in 2017 by Xu Chi and Wu Kejian, with nearly 500 employees and over $300 million in funding from investors including Alibaba and Sequoia [2]. - The company has established two optical factories in Wuxi and Kunshan, producing 65% of its components in-house, leveraging China's manufacturing advantages [2]. Market Position - XREAL has been the global sales leader in the AR sector for three consecutive years and ranks second in the global AR/VR market, only behind Meta [1][2]. - The company believes that the hardware still faces challenges in optical display and battery life, predicting that achieving the ideal form will take five years or more [2]. Product Innovations - XREAL recently introduced two products: XREAL One Pro and Project Aura, focusing on spatial display and spatial computing capabilities [6][7]. - The XREAL One Pro features an upgraded optical system with a field of view of 57 degrees, providing an immersive viewing experience [6][7]. - The self-developed X1 chip in the XREAL One series reduces latency to an industry-leading 3 milliseconds, enhancing the user experience [7]. Strategic Partnerships - XREAL has partnered with Google on Project Aura, which aims to create a unified operating system for XR devices, similar to the Android system for smartphones [10]. - This collaboration is expected to address the fragmentation in the XR industry, allowing developers to create applications that can run across various hardware platforms [9][10].