Apple’s Vision Pro virtual reality headset launches in U.S.

06.02.2024

Apple’s highly anticipated Vision Pro virtual reality headset has officially hit the market in the U.S., with preorders now being fulfilled and customers able to pick up their headsets at Apple Store locations. The launch event at the flagship Fifth Avenue store in New York City was attended by Apple CEO Tim Cook, who spoke with CNBC’s Jim Cramer about the device’s premium price point.

Despite the Vision Pro starting at a hefty $3,500, Cook defended the cost, referring to it as “tomorrow’s technology today.” He highlighted the option for customers to spread payments over time through a monthly financing plan, making the headset more accessible. Cook emphasized the innovation packed into the device, noting that it boasts an impressive 5,000 patents.

During Apple’s recent earnings call, Cook revealed that the Vision Pro is gaining traction as an enterprise product. Major companies such as Walmart, Nike, Vanguard, Stryker, Bloomberg, and SAP have reportedly started investing in the headset as a platform for both customers and workers. Cook expressed confidence in Apple’s ability to straddle both consumer and enterprise markets with the Vision Pro, thanks to its versatile range of use cases.

While reporting positive fiscal first-quarter results that surpassed revenue and earnings expectations, Apple’s wearables business, which includes the Vision Pro, saw an 11% year-over-year sales decline. Despite this, Cook remains optimistic about the headset’s potential, mentioning its integration with over 600 apps and games designed for a “spatial computing” experience.

In the wearables category, the Vision Pro joins popular devices like the Apple Watch and AirPods. Analysts, however, are cautious about expecting an immediate significant revenue boost from the headset. As Apple continues to position itself as a leader in cutting-edge technology, the Vision Pro represents the company’s latest foray into the evolving world of virtual reality.