Xreal, formerly known as Nreal, has asserted that the volume of their AR glasses dispatches will shortly reach 200,000. Their Air glasses are priced at $379 in contrast to the $3,500 Apple is estimated to ask for their Vision Pro headset which is projected to be available to buyers in the following year. As estimated by CCS Insight, total global shipments of VR headsets and AR gadgets dwindled by 12% to 9.6 million by 2022.
It has been less than a year since Xreal, a start-up dealing in augmented reality glasses, began selling its products, and they are now claiming that shipments will soon reach 200,000 units. Augmented reality allows digital images to be layered over real-life environments. After a mass launch in late August 2022, it took Xreal approximately four months to ship 100,000 units across the world, as co-founder Peng Jin told CNBC on Thursday during Shanghai MWC. He remarked that it wouldn't take too long to reach 200,000 units, but did not provide a specific date. In late May, the firm reported having sold 150,000 items worldwide, and it is not yet known whether the rate of sales has increased.
Jin commented that growth of 300% should be the norm, and that it is encouraging that people are receptive to this new technology. Xreal's Air glasses are around a tenth of the cost of Apple's Vision Pro headset, which is expected to arrive next year. Though their capabilities vary, both headsets attempt to produce a large virtual screen to replicate physical screen time. Jin believes spatial computing will be a major trend in the next few decades, and added that it is not necessary to create original content for users to give into this new form factor; rather, the content is already there.
The Financial Times reported on Monday, citing sources, that the suppliers of Vision Pro estimated just a few hundred thousand units for its first year on the market, much lower than Apple's internal sales target of 1 million. Factors such as complexity and production challenges were attributed to the lowered expectations. Apple did not respond to a request for comment. A research firm called CCS Insight revealed that worldwide shipments of VR headsets and augmented reality devices had declined by 12% to 9.6 million in 2022. Meta recently unveiled its new headset, the Quest 3, selling at $499, with more details arriving by September. Canalys predicted that by 2024, Vision Pro and related devices would reach a user base of 20 million. According to Nicole Peng from Canalys, for Vision Pro to be successful, it must replace PDAs, which is what their value proposition sets out to do. This differs from what Xreal or Meta offer, with Xreal having recently rebranded from Nreal. Xreal's Air product still requires a cord when connected to a device, however, their Beam accessory, costing $109, lets people link wirelessly. People from 85 countries signed up to be notified of the Xreal Beam and Xreal primarily sells to the U.S., Japan and South Korea, with China accounting for less than a third of total sales. In August, Xreal plans to make online shipping available to parts of Europe, though customers in the region can already buy through Amazon.com in the U.S. with international shipping.
Xreal Air has the appearance of a standard pair of sunglasses, and its weight is listed at just 79 grams (less than 3 ounces).Steve Kovach of CNBC noted that the Vision Pro was "a bit heavy and uncomfortable" after wearing it for 30 minutes. The device is worn much the same way as a pair of goggles.In comparison, Xreal's glasses present a displayed image directly in front of the user's eyes,while also allowing for the visibility of the real world.Jin noted that development is in progress in order to reduce the bulk of the glasses, improve the user's field of view, and lower the power consumption.
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Despite being top-rated on Amazon, Xreal's AR glasses have not managed to provide a perfect user experience. A review by Mashable last week pointed out the lack of content within the firm's operating system, along with difficulties when attempting to sync it with an existing device. However, the reviewer mentioned that despite its flaws, they still use it on an almost daily basis, and it has become an integral part of their gaming experience. In 2021, Xreal received $100 million in investments, valuing the company at $700 million, a story reported by CNBC. Subsequently, a $60 million capital raise with the participation of the Chinese firm Alibaba followed. Xreal has also partnered with Chinese electric car manufacturer Nio to create AR glasses with the aim of allowing people to watch movies from the inside of their vehicle. Last week, Xreal's CEO, Jin, declared that the company is searching for more funding, expecting at least a couple of hundred million dollars or even more. He declined to say the exact amount or the valuation of such an operation, and he also said that he is not a part of those conversations. – Contributions to this report were made by CNBC's Arjun Kharpal, Steve Kovach, and Jonathan Vanian.
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