Meta’s bet on VR ‘no closer to paying off,’ CNBC says

Facing an advertising slowdown, Mark Zuckerberg’s and Meta (META), went forward with plans to "spend billions of dollars developing the metaverse," and Virtual reality devices, wrote CNBC’s Jonathan Vanian. Meta’s "bet on virtual reality" has not yet paid off, as sales of VR headsets in the U.S. this year declined 2% from 2021 to $1.1B as of early December, added the CNBC story, citing data shared by research firm NPD Group. Other companies in the space include Sony (SONY). Reference Link