Meta Platforms(US:META) Mai Gao Zheng Quan·2025-09-23 11:28Investment Rating - Industry Rating: Outperform the market [6] - Rating Change: Maintain [6] Core Insights - On September 18, 2025, Meta announced the launch of three new AI smart glasses at the Meta Connect 2025 event, including Meta Ray-Ban Display, Oakley Meta Vanguard, and Ray-Ban Meta Gen 2 [1][11] - Meta Ray-Ban Display is the first AI smart glasses with high-resolution full-color display, featuring a 600x600 pixel right-eye display, 90Hz refresh rate, and peak brightness of 5000 nits, priced at $799 and set to launch on September 30, 2025 [2][12] - The new generation Ray-Ban Meta and Oakley Meta Vanguard smart glasses have upgraded hardware and software, with Ray-Ban Meta offering 8 hours of mixed-use battery life and 3K video recording capabilities, priced at $379 [3][20] - Oakley Meta Vanguard features a 12MP camera, 3K video recording, and IP67 waterproof rating, priced at $499 and launching on October 21, 2025 [3][19] Summary by Sections Section 1: New Product Launch - Meta Ray-Ban Display is equipped with a right-eye full-color display, capable of showing notifications, navigation translations, and supporting real-time video calls [2][13] - The Meta Neural Band allows advanced gesture control by detecting muscle signals from the user's forearm [2][13] - The new generation Ray-Ban Meta offers enhanced battery life and video recording capabilities, while Oakley Meta Vanguard is designed for sports with integrated fitness platform support [3][19][20] Section 2: Market Trends and Projections - The AI+AR smart glasses market is expected to grow significantly, with a projected CAGR of over 60% from 2025 to 2029 [20] - In the first half of 2025, the domestic smart glasses market saw a retail volume of 468,000 units, a 148% year-on-year increase, with AR smart glasses retail volume reaching 195,000 units, up 77% [21] - Meta's AI smart glasses are positioned to lead the market, with expectations of over 10 million units shipped in 2026 [4][21]