Market Reality: Magic Leap Goes to Work, Snap Speeds Up AR Spectacles Timeline, & Apple's CEO Preaches the Future of AR

Magic Leap Goes to Work, Snap Speeds Up AR Spectacles Timeline, & Apple's CEO Preaches the Future of AR

Now that the Magic Leap One is out in the real world, the mystery behind the company lies not in whether it will actually ship a product, but when it will ship a consumer product. Or, does CEO Rony Abovitz steer the company in a different direction first?

Meanwhile, another company that has gone on record regarding its own AR wearable, Snapchat parent Snap, Inc., may be closer to shipping its AR version of its Spectacles camera glasses sooner than expected.

Of course, Apple is also working (reportedly) on smartglasses, not to mention leading the way in the mobile AR sector. So when Apple CEO Tim Cook appears on TV to talk about augmented reality, we sit up and watch with popcorn at the ready.

Magic Leap's Stealth Approach to Conquering AR Enterprise Market

Mystery is a tricky thing. Used correctly, it can give onlookers the impression that wondrous and perhaps valuable things are afoot. However, once the veil of suspension of disbelief is removed in any significant way, that same mystery can quickly turn into not just skepticism, but outright anger at what may have seemed like an attempt to dupe trusting onlookers.

That is, essentially, the story of Magic Leap — at least within the last few months. And now, with the company's first real contact with the public via the L.E.A.P. conference in Los Angeles behind it, the mystery is gone. And so are a lot of the public's expectations that surrounded the over $2 billion in investment devoted to the unproven startup. That is both a good and bad thing.

Continue reading as we retrace Magic Leap's journey from mysterious startup to present state and its near-term market opportunity in the enterprise sector. Read further for information on Sennheiser's AR spatial audio headphones that Magic Leap is now selling for $250...

REALITY BITES: 2018 has not been kind to Snap, Inc., as it has faced an exodus of executives, erosion of its user based, and a nosedive of its stock price. However, things are looking pretty good in its augmented reality lane, particularly within its creator community, with more than 250,000 Lenses submitted through its Lens Studio platform. The company recently invited creators to its Santa Monica offices for its first-ever Lens Fest, and on Monday, it announced Lens Creative Partners, a certification program for ad agencies and content creators that makes it easier for brands to select partners for creating AR Lenses.

Snap May Ship AR-Enabled Spectacles Next Month

The augmented reality smartglasses future that Snap founder Evan Spiegel has teased for so long may be closer than many realize.

On Tuesday, just days after the departure of Snap's vice president of content, a source claims that the company will release a new, AR-powered version of its Spectacles wearable product by the end of this year.

Read further to find out more about the reported product and why Snap may be introducing the next evolution of Spectacles in mere weeks...

REALITY BITES: Matt Miesnieks, founder of AR Cloud company 6D.ai and NR30 member, shared his prediction for Apple's AR future on Twitter last Saturday. He believes that with Apple shifting towards reporting revenue per user versus device sales, the company will eventually establish a "reality operating system" that spreads across multiple devices, including smartglasses, watches, iPhones, iPads, and AirPods. We'll check back in three years to see if his prognostication holds true.

Apple's Tim Cook Continues His AR Advocacy on HBO's Axios

On Sunday, Apple CEO Tim Cook (the number one person on our NR30 list) made a rare television appearance to talk about and show off his current obsession: augmented reality.

In a segment on the new HBO documentary news series from Axios, Cook invited two of the site's journalists to the Apple campus to talk tech.

Keep reading to find out what Cook said about AR and Apple's smartglasses plans...

Image by HBO/Axios

REALITY BITES: We've established a new section on Next Reality that pulls together all the news on the business of augmented reality. So if you're craving news on investments, executive arrivals and departures, market analysis, and the like, check out our AR Business section!

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.

Cover image via Snap

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