Apple is seeing a lot of potential in the metaverse and is "investing accordingly," the company's head, Tim Cook, said during Q1 2022 earnings call.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The Apple CEO did not clarify in what projects the Cupertino-based company is investing in. It also remains unclear how much Apple put in the metaverse-related initiatives. However, Cook noted the company is focused on the intersection between software, hardware and services:
"That is where the magic really happens. There is quite a bit of investment going into things that are not on the market at this point."
Meanwhile, Apple reportedly postponed the release of its VR/AR headset for at least a few months as the product is said to be facing issues with overheating. According to reports, Apple might delay the presentation of the headset towards the end of 2022, with the release in 2023.
Bloomberg journalist, Mark Gurman, also reported that Apple decided to wind down its idea of a metaverse for its augmented-reality headset as the very concept of the metaverse is "off-limits" from the company. Instead, Apple plans to use an AR headset for gaming, communication and web surfing.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.