The Apple Inc. (NASDAQ:AAPL) Vision Pro headset is reportedly facing challenges in attracting fresh content, with a lack of a "killer app" to justify its $3,500 price tag.
What Happened: According to the report, the Vision Pro has over 2,000 apps available five months after its U.S. debut, a stark contrast to the 20,000 iPad apps and 10,000 iPhone apps available within a similar timeframe after their respective launches, the Financial Times reported on Thursday.
Market tracker Omdia's analyst, George Jijiashvili, noted that the Vision Pro's launch has been slower than anticipated due to developers dedicating their resources to platforms with billions of users.
While the Vision Pro's high price has allowed Apple to capture more than 50% of the total VR headset market by dollar value, IDC analyst Francisco Jeronimo emphasized that the device's success will ultimately depend on the available content.
Wamsi Mohan, equity analyst at Bank of America, said the Vision Pro has "just not quite hit the imagination of the consumer."
Notably, nearly 300 of the top iPhone developers, including Google, Meta, Tencent, Amazon, and Netflix, have not yet brought any of their software or services to Apple's latest device.
Why It Matters: The Vision Pro's struggle to attract fresh content and justify its high price tag has been a recurring theme. As reported in June 2024, Apple was struggling to develop a cheaper version of the headset due to a lack of mainstream appeal. In July, the company was said to be working on major design and price changes for the next generation of the Vision Pro.
Furthermore, Jeronimo recently predicted that Vision Pro sales would fall short of the initial target of 1 million units by 2024, potentially validating criticisms from Meta Platforms Inc. CEO Mark Zuckerberg.
Price Action: Apple was trading 0.14% higher at $227.89 in the pre-market on Friday after the stock closed at $227.57 on Thursday, as per Benzinga Pro.
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Image courtesy – Apple
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari