Meta Quest Pro VR headset gets price cut

Meta will drop prices on its Quest 2 and high-end Quest Pro headsets, the company announced Friday.

The price of the Meta Quest 2 will drop from $499.99 to $429.99, while the price of the high-end Meta Quest Pro will drop to $999.99 from $1,499.99.

Meta lost $13.7 billion on its Reality Labs segment in 2022. It is the business unit responsible for building the company’s ambitious metaverse technologies. Reality Labs generated revenue of $727 million in the fourth quarter and $2.16 billion for the full 2022 — down from $2.27 billion in 2021 — including Quest headset sales.

The Meta Quest Pro 2 was announced in November, but the high price put it out of reach for most consumers. And there didn’t seem to be a clear professional use case either. The lower price may make it more attractive to both audiences.

“Our goal has always been to create hardware that is affordable for as many people as possible to take advantage of all that VR has to offer,” the company said in a release. The price change will start rolling out on March 5th for Meta Quest 2.

US and Canadian buyers will also see the Quest Pro’s new price on March 5. The price will drop for the rest of the world on March 15th.

— CNBC’s Ari Levy contributed to this report.