Apple confirms acquisition of AR startup Mira following Vision Pro launch

Apple's recent acquisition of Mira, an augmented reality (AR) startup specializing in hands-free, smartphone-powered headsets, comes just a day after the tech giant launched its own virtual reality (VR) product line called Apple Vision Pro.

Apple confirms acquisition of AR startup Mira following Vision Pro launch

The acquisition was confirmed by Apple following a private Instagram post from Mira CEO Ben Taft, revealing the news.

Apple Vision Pro, set to be released in early 2024 with a price tag of $3,499, is designed for personalized virtual reality experiences, while Mira's headsets are specifically built for industrial applications.

Mira's headsets are currently used in industries such as manufacturing, mining, defense, and have even been used to develop AR headsets for Universal Studios in Nintendo World theme parks.

Apple's response to inquiries about the acquisition was that they often acquire smaller technology companies without disclosing specific plans or purposes.

Mira had previously secured $17 million in funding and possessed several patents and trademarks, while the financial details of the acquisition by Apple remain undisclosed.

Although Apple did not mention "metaverse" or "virtual reality" during the launch of Apple Vision Pro, many tech entrepreneurs see the device's potential in accelerating the adoption of the emerging sub-crypto ecosystem.

In addition to tech giants, government agencies, including the Chinese city of Nanjing, have started exploring the metaverse. Nanjing recently inaugurated the China Metaverse Technology and Application Innovation Platform to advance metaverse research and development nationwide.

Other major Chinese cities, like Shanghai, have also launched initiatives to tap into the metaverse market, with a projected annual revenue target of 350 billion yuan ($49.6 billion) by 2025.