Andrew Boz Bosworth
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As VR gamers celebrate the launch of Steam Frame, Meta's next headset leaks ahead of Connect 2026, but I don't…
Ahead of Meta Connect 2026, imagery has leaked for Meta's unannounced 'Project Phoenix' device, which appears to be more akin to smart glasses than a traditional VR headset. This comes amid Meta's recent studio closures and layoffs in its Reality Labs division, and a price increase for Quest headsets, suggesting a potential shift away from the mainstream gaming market. The article questions whether this new device will pose a competitive threat to Valve's Steam Frame, especially given its potential focus on controller-free interaction and a smaller lens.
No pressure Steam Frame: Meta's mixed reality division is still haemorrhaging money, losing $4.6 billion in its…
Meta's Reality Labs division reported a loss of $4.6 billion in the second quarter of 2026, continuing a trend of significant financial losses. Despite revenue increases, spending heavily outweighs income, potentially due to R&D and hardware manufacturing costs. This financial situation is highlighted as Valve prepares to enter the VR market with its Steam Frame.
