Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Tech Gadgets

Augmented reality start up shifts focus to handle new COVID-19 world

(TECH GADGETS) Augmented reality start up Magic Leap changes up their game plan to deal with what they believe the post-COVID-19 world will be like.

Magic Leap 1

This week augmented-reality startup Magic Leap, Inc. announced a shift away from consumer business towards enterprise products. A report by Bloomberg says the move has caused the company to cut about 1,000 employees, around half of its workforce to accommodate the change in business models. Once seen as the future of AR in the home, this move represents a drastic change for the startup darling.

Magic Leap was founded in 2011 whose IP (a lightweight headset using spatial computing technology to create sophisticated augmented reality experiences) attracted investment attention from big-hitters including Alibaba Group Holding Ltd., Alphabet Inc., and Saudi Arabia’s Public Investment Fund. The startup raised more than $2.6 billion, becoming one of the most well-capitalized consumer hardware startups ever.

The company’s first headset was revealed in 2018 priced at $2,300 after years in development. Magic Leap emphasized a consumer-driven product, marketing the Magic Leap 1 Lightwear for its uses at home such as remote work, games, social media, and entertainment.

CEO Rony Abovitz wrote in a blog post that this shift is driven by the current pandemic. “The post-COVID economy will be one of resiliency and the ability for businesses to operate across vast distances and connect with their customers in ways that mimic physical interactions, but benefit from the speed and scale of high-speed networks, will be critical. Spatial computing will very much be part of that coming economic change. Magic Leap’s pioneering work in the field provides us with a rich platform of technology and know-how to help usher in this era of Spatial Transformation.”

Advertisement. Scroll to continue reading.

According to TechCrunch, Magic Leap was already adapting their hardware for enterprise applications. Late last year, the release of the Magic Leap Enterprise Suite was announced, a $3,000 package that could compete with Microsoft’s AR HoloLens.

Staff Writer, Allison Yano is an artist and writer based in LA. She holds a BFA in Applied Visual Arts and Minor in Writing from Oregon State University, and an MFA in Fine Art from Pratt Institute. Her waking hours are filled with an insatiable love of storytelling, science, and soy lattes.

3 Comments

3 Comments

  1. Pingback: New AR tech makes putting images into Photoshop a breeze

  2. Pingback: Cuseum brings masterpieces into your home with AR

  3. Pingback: Snapchat is among the first to leverage Apple's new powerful AR tools

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Tech News

(TECHNOLOGY) Don’t worry about accidentally activating your nosy smart speakers... unless, of course, you utter one of these 1,000 innocuous phrases.

Tech News

(TECHNOLOGY) While Apple has not confirmed the development of augmented reality (AR) glasses, they just might be the best group to create the glasses.

Tech News

(TECH NEWS) The Apple Watch Series 6 is a ridiculous display of self-flattery—but that doesn’t mean people won’t line up to buy it in...

Tech Gadgets

(TECH GADGETS) Huawei beats Samsung as the top seller of smartphones for the first time ever -- but can they keep it up? How...

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.