Meta has announced that one of its existing products is getting a price hike. The company which is working towards a future of metaverse is asking people to pay $100 (Rs 8000 approx) more for the Quest 2 virtual reality headset.
The product has been around for over two years now, so the price hike has come as a surprise to everyone. The new price will come into effect from next month, which is just a few days away now. The news prices of Quest 2 headset will be $399 (Rs 31,870 approx) for the 128GB variant, and $499 (Rs 39,860 approx) for the higher 256GB storage model.
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Usually, the price of technology comes down after a few years, but this episode seems like an exception. Meta claims that the cost to make the product (Quest 2 in this case) and ship them has increased. So, the customer looking to buy the VR headset pays up extra from their pocket to offset the increase.
https://www.youtube.com/watch?v=/6Z5mu_2JoP0
Global inflation is becoming a concern for companies, and it seems the technology brands aren’t immune to this situation. Meta is pointing out that higher costs for everything is a reason for the price hike, but you also have to look at the other ways the company is trying to make more money out of this product.
Meta has already talked about slowing down its hiring for the year, with only critical roles available from the company.
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Metaverse is still heralded as the future of the company but Meta needs to make more money right now, and for that, these hikes can play a small part in the revenue projections.
Working on VR is proving to be an expensive proposition, and Meta wants to ensure that businesses can function even though it is incurring major losses on these projects. Quest 2 was pegged as an affordable VR solution, but a $100 price increase means you can be excused for thinking of it as anything but affordable.
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