Why it matters: Magic Leap wowed onlookers with mind-blowing demonstrations of its augmented reality tech in the years leading up to its launch. The first iteration finally arrived in August 2018 but according to a new report, sales have fallen way short of company expectations.
Early reviewers weren't exactly blown away by the AR googles' performance and neither was teardown specialist iFixit. Unsurprisingly, these factors - combined with the steep $2,300 price tag - apparently kept many potential buyers at bay.
According to a recent report from Alex Heath with The Information (paywalled, via TechCrunch), founder and CEO Rony Abovitz initially thought the company could sell one million units in its first year but later settled on a more conservative 100,000 target. Instead, the company managed to move just 6,000 headsets in the first six months.
Worse yet, a true successor to the first-gen Magic Leap headset could be "years away."
Compounded by reports that Magic Leap has laid off multiple employees recently, it doesn't paint a great picture for the company's immediate future.
According to The Verge, "Magic Leap told The Information that its report was littered with inaccuracies and misleading statements." As such, one should probably take the information with a healthy dose of salt. Often times, the truth in matters like these lies somewhere in the middle.