HTC Corp. HTCCY HTCXF CEO and co-founder Cher Wang said that Apple Inc. AAPL would launch its mixed reality headset "very soon" — but they are not worried.
What Happened: Wang said Apple would likely launch its highly-anticipated mixed reality, or XR, product in the "middle or later" part of the year, reported CNBC. Apple analysts previously predicted that the headset would launch in Spring 2023 but now say it could be announced alongside iPhone 15 in September.
See Also: Apple Could Be Bringing Cheaper MR Headset Next Year To Capture Wider Market
"Apple is always more cautious. I think the market is now big enough [that] they probably will enter," Wang said.
HTC was once a significant player in the smartphone market but has now created a niche for itself in the XR universe. However, despite gaining success, its market share is relatively small.
Wang thinks that with more players like Apple, Meta Platforms Inc. META and Samsung Electronics SSNLF in space, the overall adoption of mixed reality devices will increase — which will eventually grow HTC's business. "Competition is always good."
Why It's Important: The XR market has grown considerably fierce in recent years. Apple isn't the only competition HTC needs or need not be worried about.
Meta launched its $1500 Quest Pro device in October last year. The company has initiated price cuts starting March 5. The device will now be retailing for only $1000.
Earlier this week, Samsung also said it is "working out" a mixed reality strategy. Microsoft Corporation MSFT already has its MR headset, HoloLens, the report noted.
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