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Meta’s Reality Labs posts $5 billion loss in fourth quarter
Meta's Reality Labs unit recorded an operating loss of $4.97 billion while generating $1.1 billion in sales during the fourth quarter.
Since then, Zuckerberg has characterized VR and augmented reality as central to his plans to develop the futuristic digital world known as the metaverse, which he has said represent the next major computing platform. The social media company last year also unveiled its Orion prototype AR headset that is capable of overlaying digital objects on top of a person's real field of view. Meta CEO Mark Zuckerberg kick-started his company's virtual reality endeavors in 2014 when it acquired Oculus for $2 billion.
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