Meta Platforms (NASDAQ:META) is expected to unveil new smart glasses with a built-in display at its annual Connect event on Wednesday with a retail price tag of $800, according to a Tuesday report from Reuters.
The new costlier glasses, internally codenamed “Hypernova,” are expected to be launched as “Celeste,” according to analysts who spoke to Reuters, and will feature a small digital display in the right lens for basic functions such as notifications.
The new product will likely be much less advanced than the “Orion” prototype glasses that Meta showcased at last year’s event, the report said.
An earlier report from CNBC suggested that the “Hypernova” glasses could be developed in collaboration with Prada (OTCPK:PRDSY), the Italian label that is known for thick frames and arms that could house many of the necessary components for smart glasses.
Analysts told Reuters the $800 price tag for the new glasses—much higher than the $299 starting price for the Ray-Ban line and $399 for the sportier Oakley glasses—will mean that the product will have a “negligible share of the market.”
“These glasses will be somewhat bulky … not the most consumer-friendly design. It is also going to be pretty expensive. So the volumes are going to be fairly low,” Jitesh Ubrani, research manager for International Data Corp’s worldwide mobile device tracker, told the news outlet.
At the Connect conference, Meta is expected to launch its first wristband that allows users to control the new glasses with hand gestures. It is also expected to show an updated Ray-Ban line that comes with better cameras and battery life and supports new AI features, the report said, citing analysts.
The report said that as part of efforts to attract developers, Meta is also expected to open its smart glasses to third-party developers with a new software kit.