Meta is doubling down on its smart glasses ambitions. According to a report from Bloomberg, the social media giant has purchased just under a 3% stake in EssilorLuxottica — the parent company of Ray-Ban — in a deal worth around €3 billion ($3.5 billion USD). Per sources, the tech giant is also considering increasing its stake to about 5% over time.
The move solidifies Meta’s growing commitment to the smart glasses market. The two companies already have a long-standing partnership, having launched the Ray-Ban Meta smart glasses lineup. These glasses, which feature built-in cameras and Meta’s AI assistant, are capable of everything from snapping photos to providing real-time stock updates.
Meta’s latest investment comes as it ramps up efforts to carve out a leading position in wearable tech. The company recently unveiled its new Oakley HSTN smart glasses — developed in partnership with EssilorLuxottica — set to launch on July 11. Additionally, Meta is reportedly working on its first-ever display-equipped smart glasses, rumoured to launch later in 2025. The company also previewed its futuristic Orion augmented reality concept glasses last year, showcasing its longer-term AR ambitions.
“This represents another step in Meta’s commitment to the smart-glasses category,” noted analysts at Bernstein.
For Meta, the stake unlocks deeper access to manufacturing know-how and global distribution networks — both critical for scaling smart glasses to mass-market status. CEO Mark Zuckerberg has been vocal about smart glasses as a key part of Meta’s strategy to reduce reliance on smartphones and expand its hardware ecosystem.
As competition heats up, with rivals like Google and Xiaomi making moves in the industry, Meta’s bet on eyewear could help it stay ahead in the growing smart glasses market projected to be worth around $8.26 billion by 2030. Apple is also eyeing an entry into the smart glasses space, with a recent report detailing the company’s roadmap for head-mounted devices through the latter half of this decade.
Want to see more of our stories on Google?
P.S. Want to keep this site truly independent? Support us by buying us a beer, treating us to a coffee, or shopping through Amazon here. Links in this post are affiliate links, so we earn a tiny commission at no charge to you. Thanks for supporting independent Canadian media!
