Market Reality: Magic Leap & Apple Stockpile Funds & Talent as Samsung Reveals AR-Focused Smartphone

Magic Leap & Apple Stockpile Funds & Talent as Samsung Reveals AR-Focused Smartphone

This week, two companies preparing the most anticipated augmented reality devices for consumers were the subject of reports regarding strategic moves to put them in better positions to move those products forward.

Magic Leap is reportedly seeking an extension of its last round of funding ahead of the launch of its Magic Leap One: Creator Edition, while Apple is apparently adding an industry veteran to its AR team.

Meanwhile, Samsung wants to be considered among the giants in the emerging AR industry, and it offers its latest flagship smartphones (aside from ARCore compatibility with its existing devices) as its initial entry into the field.

Magic Leap Lining Up More Funding

Magic Leap is currently in the midst of closing another funding deal, this time from Saudi Arabia's Public Investment Fund (PIF) to the tune of $400 million, according the Financial Times.

The funding would actually be an extension of the $503 million Series D round that Magic Leap closed last year.

Does more money equal more problems? Read on to find out...

REALITY BITES: EdgyBees has $5.5 million in seed funding to develop an augmented reality platform for first response workers.

Apple Looks to Add Former Twitter Exec to AR Team

In hopes of strengthening its growing augmented reality team, Apple has reportedly hired Michael Abbott, an engineering and investment veteran with past ties to Twitter, Microsoft, Palm, and others.

The report was surfaced by MacRumors, which translated a MacGeneration post on Tuesday. Apple hasn't confirmed the hire publicly.

While his role is unknown, Abbott has a unique set of accomplishments with past companies plus recent research experience that can place him in a number of positions on Apple's AR team. Read on to learn how he may fit...

REALITY BITES: Gaming industry analysts SuperData expect the augmented and virtual reality gaming market to earn $7.6 billion in revenue in 2018, with the augmented reality segment doubling its take to $3.2 billion and setting a pace to overtake virtual reality by 2021.

Samsung Challenges Apple & Google for Premier AR Smartphone

Samsung's big reveal of the Galaxy S9 and S9+ at Mobile World Congress revolved around its "reimagined" camera and augmented reality capabilities.

AR is such a central component that Samsung opted to show off the device to attendees via AR using the Unpacked app (as expected).

What makes Samsung's latest flagships challengers to the AR smartphone crown? Here's why...

Every Friday, Next Reality reviews the latest headlines from the financial side of augmented and mixed reality. This weekly Market Reality column covers funding announcements, mergers and acquisitions, market analysis, and the like. Check out previous editions of Market Reality for more news you may have missed.

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Cover image via Samsung/YouTube

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