Core Viewpoint - The smart glasses industry is experiencing significant hype and investment, but the reality is that no product has achieved substantial sales, highlighting the challenges in technology and user experience [3][11][12]. Industry Overview - Major companies are entering the smart glasses market, leading to a surge of capital and interest, but the actual product performance and user acceptance remain low [2][3]. - The industry is currently in its early stages, with many products struggling with delivery, user experience, and high return rates [3][10]. Market Challenges - Despite the excitement, no single product has surpassed one million units sold, with Ray-Ban Meta being the only exception, relying heavily on subsidies [11][12]. - The industry faces significant technological hurdles, including the need for advancements in chips, optics, and algorithms to improve user experience [3][6][12]. Future Outlook - The CEO of XREAL believes that true innovation will come when AI technology matures, potentially around 2027 or 2028, leading to a significant breakthrough in smart glasses [5][9]. - The integration of AI with AR glasses is seen as crucial for creating a next-generation platform that could surpass smartphones [15][16]. Product Development Strategy - XREAL emphasizes the importance of focusing on creating a successful AR glasses product before venturing into AI glasses, aiming for a strong user experience [5][10]. - The company is committed to deepening its technological innovations rather than merely optimizing existing supply chains [6][18]. User Experience Focus - The industry must prioritize improving the user experience to encourage daily wear and longer usage times, which are critical for market acceptance [3][13]. - XREAL is exploring two routes: developing lightweight glasses for all-day wear or creating portable devices that can be easily carried [13][14]. Collaboration and Ecosystem - XREAL recognizes the need for collaboration with major tech companies to build a robust ecosystem, as it is challenging for any single company to dominate the market [17][18]. - The company is working on partnerships to enhance its technological capabilities and product offerings, aiming to establish a strong market presence [17][18].