According to a new report from Information.
The report notes that the company had originally planned to launch the first version of its AR glasses, which are codenamed Project Nazare, in 2024. However, employees were informed that Meta no longer plans to bring the AR glasses to market due efforts to cut back on heavy investments in its Reality Labs and AR/VR division.
A person familiar with the matter told The Information that the company plans to use the first version of the AR glasses as a demo product instead, as opposed to a commercial product. Meta now plans to prioritize the release of the second version of the AR glasses, codenamed Artemis.
The changes come as Meta faces slowing revenue growth, which has led the company to freeze hiring in some divisions.
Meta did not respond to TechCrunch’s request for comment.
Regarding the portal, Meta would focus on repositioning the product as a professional device rather than a consumer device. According to the report, the company will no longer release “consumer-oriented” portal devices. The Portal has faced a bumpy road since its launch in 2018 as it never really gained popularity in the smart screen market. Meta’s decision to market the Portal as a business product aligns with its recent efforts to promote the device as a hybrid work tool, as the latest two Portal devices are compatible with Zoom and Microsoft Teams.
The report comes as it was recently revealed that Meta is also canceling the first version of its planned smartwatch with a camera, as first reported by Bloomberg. Meta reportedly plans to release the smartwatch next year.