The sales of Apple Inc. (NASDAQ:AAPL)'s Vision Pro are predicted to fall short of the initial target of 1 million units by 2024, according to an analyst's forecast. Meta Platforms Inc. CEO Mark Zuckerberg, who threw shade at Apple Vision Pro, could have been right about Cupertino's mixed reality headset.
What Happened: Francisco Jeronimo, Vice President at IDC, said in a post on X on Friday that Apple Vision Pro is now expected to sell less than 500,000 units in 2024.
Jeronimo's prediction is half of Apple's initial target of selling a million units of Vision Pro.
Despite this lower-than-expected sales, Apple is projected to capture 29% of the total AR/VR market value in the same year.
Jeronimo suggests that the success of Vision Pro will largely depend on the content available. As Apple expands the product to international markets, the availability of local content will be crucial, he told Bloomberg.
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Since its U.S. launch in February, the Vision Pro mixed reality headset has struggled with slow sales, selling less than 100,000 units in a quarter. IDC predicts a 75% drop in domestic sales in the current quarter, which may be offset by the product's expansion to other markets which began in June.
A cheaper model, expected to cost roughly half as much, is anticipated to boost interest in 2025. However, IDC warns that sales may not significantly increase over the coming year.
Although Apple will not cross 500K in units sold, it will grab 29% of the total AR/VR market value in 2024, a remarkable achievement considering its first year of sales with a product priced at $3,500.
— Francisco Jeronimo (@fjeronimo) July 11, 2024
"The Vision Pro's success, regardless of its price, will ultimately depend on... pic.twitter.com/r6KhzmIGTD
Earlier this year, Zuckerberg expressed his skepticism about the mainstream success of AR glasses, particularly those without "full holographic displays," in a subtle jab at Apple Vision Pro. He compared the Vision Pro to Meta's Quest 3 and said that he believed Quest to be the better product.
Why It Matters: The Vision Pro has received mixed reviews since its launch. The device's weight and lack of tailored apps and video content have led to some customers returning the product.
Consequently, Apple is planning a more budget-friendly version of the device, which IDC's Jeronimo believes will more than double sales when it arrives in the latter half of next year.
Prominent analyst Ming-Chi Kuo has also noted that many users are buying the Vision Pro but are not using it extensively.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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