Amazon is reportedly developing augmented reality (AR) glasses for consumers and for delivery drivers.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The company aims to launch the consumer product late next year o ...

Core Insights - Meta is set to launch new smart glasses named Hypernova in September, starting at a price of $800, down from an initial plan of $1,000 [2][3] - The Hypernova glasses will feature a display for apps and alerts, and will be controlled via a wrist accessory, indicating a shift towards glasses potentially replacing smartphones in the future [3][4] Pricing and Market Context - Current Meta Ray-Ban glasses are priced between $200 to $400, while Oakley smart glasses can cost up to $500, positioning Hypernova at a premium price point [2] - The price reduction for Hypernova suggests a strategic move to capture a larger market share in the smart glasses segment [2] Technological Features - Hypernova is rumored to include a smartphone-quality camera and a voice-activated AI tool, reflecting advancements in wearable technology [4] - The glasses are designed to work in conjunction with mobile phones, hinting at a future where they may serve as standalone devices [3][4] Industry Trends - EssilorLuxottica reported a more than 200% increase in sales of Ray-Ban Meta glasses in the first half of the year, indicating strong market demand for smart eyewear [5] - The convergence of AI, sensory technology, and healthcare data is seen as a transformative trend in the eyewear industry, as stated by EssilorLuxottica's leadership [5] Competitive Landscape - Google is also entering the smart glasses market with its Android XR operating system, partnering with eyewear brands to create AI-equipped glasses, which may intensify competition in the sector [6][7] - The vision of AI assistants integrated into eyewear is a common theme among tech companies, suggesting a growing trend towards augmented reality and smart devices [7]

Core Insights - Meta CEO Mark Zuckerberg envisions a "personal superintelligence" as the next major wearable technology, potentially surpassing smartphones in functionality [2] - The company aims to empower individuals through AI, contrasting with concerns that AI may replace jobs and societal roles [2] - Meta's Reality Labs continues to incur significant losses despite modest revenue growth, indicating challenges in monetizing its hardware initiatives [4] Financial Performance - Meta's Q2 revenue increased by 22% to $47.52 billion, the fastest growth since 2021, driven by a 9% rise in ad prices and an 11% increase in impressions [5] - Net income rose by 36% to $18.34 billion, improving the operating margin from 38% to 43% [5] - Reality Labs reported an operating loss of $4.53 billion, which is approximately $50 million wider than the previous year, while revenue grew by 5% to $370 million [4] AI and Product Development - AI is already enhancing Meta's products, with superintelligence expected to further accelerate progress in five key areas [3] - New recommendation models improved ad conversions by 5% on Instagram and 3% on Facebook [6] - The MetaAI assistant has surpassed 1 billion monthly users, with plans for further improvements through the next Llama model [6] Market Position and Strategy - Meta is leveraging current advertising revenue to fund future AI developments, positioning itself as a leader in personal superintelligence [7] - The company is committed to open-sourcing its AI models, although it acknowledges the practical limitations of larger systems [3] - Meta's family of apps now attracts 3.48 billion daily users, reflecting a 6% year-over-year increase [5]

Group 1 - Meta is collaborating with Prada to develop AI smart glasses, expanding its technology beyond its existing partnership with EssilorLuxottica [1][2] - The partnership with Prada indicates Meta's strategy to engage more fashion brands in the smart glasses market [2] - Meta has previously sold millions of Ray-Ban Meta AI smart glasses and is also working on a collaboration with Oakley, which may be announced soon [3] Group 2 - The upcoming Oakley smart glasses are expected to be priced around $360 [3] - The renewed partnership between Prada and EssilorLuxottica highlights the ongoing relationship between fashion and eyewear industries [2] - Meta's efforts to diversify its collaborations suggest a broader ambition to integrate AI technology into various fashion segments [2]