Meta Platforms (NASDAQ:META) has announced the third version of its Quest headset, the Meta Quest 3, for release in the fall.
The newest iteration of its virtual/mixed reality headset offers a slimmer form factor but also higher resolution, stronger performance and "breakthrough Meta Reality technology."
The 128GB headset will start at $499.99, while the company will also offer an additional storage version.
The new Quest 3 will be the first headset to feature a next-generation Snapdragon chipset from Qualcomm (QCOM) that Meta says will deliver more than twice the graphical performance of the Snapdragon in Quest 2.
It will be backwards-compatible with the Quest 2 catalog of over 500 apps.
Meanwhile, starting June 4, Meta is lowering the price of its Quest 2 headset to $299.99 for 128GB, and $349.99 for 256GB. It's also planning to update the Quest 2 and Quest Pro performance via a software update.
Meta is set to present its third annual Meta Quest Gaming Showcase starting at 1 p.m. ET Thursday.