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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook Inc    FB

FACEBOOK INC

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Facebook chief scientist says 'true AR glasses' at least five years away

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09/17/2020 | 07:10am EDT
Facebook holds annual F8 developers conference in San Jose, California

Facebook Inc is about five to 10 years away from being able to bring to market "true" augmented reality glasses, its chief scientist told Reuters, as the company released plans to launch a first generation product next year.

The world's biggest social media company announced on Wednesday that it was partnering with Ray-Ban maker EssilorLuxottica for its 2021 smart glasses launch.

It also announced a research project, Project Aria, to collect data that would support the development of more advanced glasses down the road.

Michael Abrash, who heads Facebook Reality Labs Research, said fully interactive display and audio capabilities could not yet be crammed into lightweight devices like glasses, which he estimated should be around 70 grams (2.5 oz) to be viable.

Those capabilities include the ability for people to jointly see and interact with persistent shared virtual objects, like a virtual whiteboard on which they could collaborate, he said.

"Those glasses are still years off," said Abrash. "That's not a 2021 thing. I'm talking about the future."

A company spokeswoman said there would be no display in the initial 2021 product, which will work with and rely on mobile phones.

Many in the industry believe the glasses will eventually replace the functionality of mobile phones altogether, making their development a hotly contested race among tech giants like Apple, Amazon and Alphabet's Google.

Snap Inc's "Spectacles," initially released in 2016, began incorporating AR elements in its third generation product last year.

Abrash said smart glasses would need to rely on devices like phones for the forseeable future due to constraints like battery life and the heat generated by processing.

But with "true AR glasses," he said, other devices would become "an accessory to the glasses, because the glasses are how you see and interact with the world."

By Katie Paul


Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 2.25% 1585.99 Delayed Quote.18.41%
AMAZON.COM, INC. -1.00% 3184.94 Delayed Quote.72.36%
APPLE INC. -0.54% 116.87 Delayed Quote.59.20%
ESSILORLUXOTTICA -0.40% 113.35 Real-time Quote.-16.20%
FACEBOOK INC 4.17% 278.73 Delayed Quote.35.80%
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Financials (USD)
Sales 2020 80 240 M - -
Net income 2020 23 289 M - -
Net cash 2020 62 539 M - -
P/E ratio 2020 34,6x
Yield 2020 -
Capitalization 794 B 794 B -
EV / Sales 2020 9,12x
EV / Sales 2021 7,13x
Nbr of Employees 52 534
Free-Float 83,8%
Chart FACEBOOK INC
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Facebook Inc Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK INC
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 49
Average target price 294,09 $
Last Close Price 278,73 $
Spread / Highest target 20,2%
Spread / Average Target 5,51%
Spread / Lowest Target -56,9%
EPS Revisions
Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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