Apple has slashed production forecasts for its $3,499-a-piece Vision Pro headset as the company experiences teething problems in its foray into virtual reality, according to reports.
The tech giant has had to halve 2024 shipments for its mixed-reality headsets with predictions down from 900,000 to 400,000 in the first year, according to a Financial Times report.
The report said that Chinese manufacturing company Luxshare, Vision Pro’s only supplier, has experienced setbacks due to manufacturing and design difficulties, mainly with the complicated micro-OLED displays.
Apple and Luxshare were contacted for comment.
It comes following Apple’s history-making valuation on Friday when it surpassed a towering $3 trillion (£2.36 trillion) valuation at market close – the first publicly traded company to do so.
Apple hit the landmark $3 trillion (£2.36t) before in January 2022 but only in day trading.
Susannah Streeter, Hargeaves Lansdown head of money and markets, said the Vision Pro was “already running up against challenges, given its high price point, and now it’s veered into another potential setback.”
Apple are charging $3,499 (£2,755) for a headset, causing some outrage among fans at the steep price point.
But Apple has previously recovered “spectacularly well” from similar situations once users have tested their products, Streeter added.
Meta’s rival VR headset, revealed last October, costs upwards of £300 and the company plans to launch an update this autumn, starting at $500 (£394).
Shares in Apple have soared 49 per cent since this time last year, making it to their largest half-year gain since 2009.
Apple shares hovered around a one per cent drop on Monday afternoon.
The Vision Pro headset, which Apple has said is “the world’s most advanced consumer electronics device”, was launched last month to mixed reaction.
Some were impressed by the visual displays while others were unenthusiastic about its small library of apps and experiences plus the need for a clunky battery pack to remain attached.
Apple are planning to bring out a cheaper model of mixed reality headset the at the end of 2025 along with a second generation Vision Pro.