- Facebook parent Meta Platforms Inc (NASDAQ:META) agreed to use Qualcomm Inc (NASDAQ:QCOM) produced custom chipsets for its Quest virtual reality devices at Berlin’s consumer electronics conference, Reuters reports.
- Their engineering and product teams will collaborate to produce the chips powered by Qualcomm’s Snapdragon platforms.
- The chips will be optimized specifically for the Quest’s system specifications.
- Also Read: Read Why Qualcomm Failed To Mark AI Chip Debut With Meta
- Meta will continue working to develop some of its novel silicon solutions.
- Meta has relied on Qualcomm’s chips for its virtual reality devices for years, including its most recent Quest2 headset, which captures about 90% of the virtual reality hardware market.
- Meta chose Qualcomm for the second model of the company’s Ray-Ban smart glasses,
- Earlier, Qualcomm CEO Cristiano acknowledged its growing relationship with Facebook.
- Recently Meta lost its virtual reality social platform Horizon VP Vivek Sharma.
- The TFI International Securities analyst Ming-Chi Kuo said Meta’s metaverse hardware/headset business has slowed. The analyst cut his shipment forecast for the category by 25-35% to 7 million-8 million for 2022.
- Price Action: META shares traded lower by 0.15% at $165.12 in the premarket on the last check Friday.
- Photo via Wikimedia Commons
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