Xreal, Google’s smart glasses partner, thinks it has finally mastered this tricky business

The smart glass industry has long been under fire in Silicon Valley. The point is very interesting: What if, in order to enjoy the benefits of mobile computing, people did not have to look at their phones all day and, instead, just wore a light device in front of them? Science fiction fans (people who are strong in the tech industry) can see this vision perfectly.

However, the industry – for the past decade – has resembled a financial black hole a gargantuan amount they have been sunk and little profit has been made.

“Everybody is losing money,” said Chi Xu, founder and chief executive of smart glasses company Xreal, a former Google partner. I caught up with Xu at Google’s I/O conference in Mountain View last week, where he was promoting Xreal’s Project Aura. It is the latest attempt to create functional XR glasses that people want to use.

“It’s because it’s very difficult, what we’re doing,” he said.

For many companies, the problems of smart glasses seem to be obvious: too many, uncomfortable, and not compatible with people, combined with programs that are not profitable. Now, however, industry insiders — including Xu — feel like their business has turned a corner and may be reaching a tipping point.

What is thought to be the case is Meta, whose 2023 deal with Ray-Ban is set. one of the first lines of models which has managed to sell more units. (It is worth noting, however, that divisions mirror monitors, Reality Labs, still applies to large losses.)

Now, as features shrink and software improves, Xu sees Xreal as a leader in the space. “You need all the necessary tools ready – you need the hardware ready, the operating system needs to be ready, and then you need a good interface,” Xu said.

The new Xreal Aura range is a pair of wired smart glasses with OLED displays inside, meaning you can watch high-quality videos within the frames themselves. Conveniently, the Aura comes attached to a “puck” – essentially a small phone-shaped computer that powers the back of the glasses. When you use it, you can just put it in your pocket.

But in exchange for the difficulty of the puck, the user gets a variety fun experiences and mirrors, including immersion Google Maps appYouTube’s VR videos, and “art software” that allows you – through the power of hand tracking – to create holographic images that you can see for yourself. There is also he says games, playable (again) via manual tracking, and basic online functionality.

“Whether you’re following a floating method while cooking, setting up a workstation in a coffee shop or on an airplane, or watching a movie on the big screen at home, the experience will be seamless,” he said. company commitments.

Xu also says that he thinks that the device will not be used by ordinary consumers and professionals. “It’s not just about watching NBA games in hologram format, you can also go to a coffee shop and work,” he said.

At the moment, the glasses are only available to builders, but the plan is to go on sale later this year. Xreal is also working on an IPO that is expected to happen before the end of 2026, although Xu declined to comment on that.

Currently, the company is working on the entire process of turning a profit. Xu says his company has been increasing its margins while lowering its marketing and sales costs. He said: “Next year is the year we can give back.”