Meta (NASDAQ:META) recently launched the $799 Meta Ray-Ban Display, a smart glasses device featuring an in-lens screen and an EMG wristband for gesture control.
However, analysts at Oppenheimer argue that the new device does not currently pose a significant challenge to Apple’s (NASDAQ:AAPL) tightly integrated ecosystem.
“The obvious questions for Apple investors are: 1) is Meta Ray-Ban Display a threat to Apple’s ecosystem around iPhone, AirPods, and Apple Watch? And 2) is Meta leapfrogging Apple in smart glasses design?” Oppenheimer wrote. “Upon closer inspection of Ray-Ban Display’s specification and discussion with MR supply chain contacts, our answer to both questions is no.”
Oppenheimer points out that the device is not yet a fully developed hardware platform, as Meta has not released an SDK for third-party developers. Instead, the glasses primarily function by pairing with a smartphone, running Meta’s own apps and displaying notifications from external applications.
Supply chain analysis suggests Meta has relied on off-the-shelf components for the Ray-Ban Display, including Omnivision for the LCoS microdisplay and Lumus for reflective waveguides, in contrast to the more proprietary technology approach of Meta’s Orion project.
Expectations for initial sales remain modest. Oppenheimer estimates “near-term unit volume of the ‘tens of thousands’ upon release, and a unit sales forecast of 150–200K units over the next two years.”
Weight may also limit adoption, as the 67-gram design is heavier than what most users find comfortable. “While Ray-Ban Display at $800 is an impressive step toward bringing smart glasses to the mainstream, its weight remains an uncomfortable burden for most,” the analysts noted.
Oppenheimer concluded: “Meta Ray-Ban Display is an interesting product … however, it is still far from being able to challenge Apple’s wearable device ecosystem.”
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