Meta Cuts Prices for Quest Pro and Quest 2 Headsets

Meta has reduced the prices of two of its VR headset bundles over the weekend. The US price of the recently launched Quest Pro headset has been lowered by a third, and the price hike for the 256GB version of the Quest 2 headset, implemented last year, has been partially rolled back. Originally priced at $1,500 in October, the Quest Pro now retails at $1,000. The 256GB Quest 2, which had its price increased from $400 to $500 in July, is now available for $430. The 128GB Quest 2 remains the most affordable option, priced at $400. Similar price adjustments have been made for Quest headsets in other markets. According to a report by the Wall Street Journal, citing research firm IDC, Meta's headset shipments plummeted over 90% during the holiday quarter, from 4.5 million in the fourth quarter of 2021 to approximately 300,000 in the final three months of 2022. In its recent quarterly financial report, Meta disclosed that its VR, AR, and metaverse division, Reality Labs, experienced a 5% decline in revenue to $2.16 billion, coupled with a 35% increase in operating losses to $13.7 billion. An internal Meta roadmap for VR, reported by The Verge last week, revealed plans to release three new Quest VR headsets in the coming years, starting with the Quest 3 later this year. The report also included comments from Meta's VR VP, Mark Rabkin, who noted the challenges faced by the Quest brand in terms of growth and retention. Rabkin reportedly stated, 'We're currently in our third year of Quest 2, and unfortunately, the newer cohorts, those who purchased it this past Christmas, are not as engaged as the early adopters.'