By Sam Boughedda
Meta Platforms Inc (NASDAQ:META) announced it is raising the price of its Oculus Quest 2 virtual reality headsets by $100.
The company, which previously sold the VR headsets at a loss, revealed that starting in August, the Meta Quest 2 will cost $399.99 and $499.99 for the 128GB and 256GB versions, respectively.
Meta said it will help "continue to invest for the long term and keep driving the VR industry forward with best-in-class hardware, action-packed games, and cutting-edge research on the path to truly next-gen devices."
Meta has invested billions in virtual reality products as it aims to become a lead player in VR and the metaverse.
"VR’s momentum is undeniable. From gaming and productivity to fitness and beyond, VR has become increasingly popular as it positively impacts the ways we work, play, and connect with each other. People have spent over $1 billion on Meta Quest apps, helping to fuel developers’ businesses as they deliver the games and experiences that make VR great," added Meta.
The company put the price increase down to rising costs for manufacturing and shipping.
As part of the price increase, Meta said for a limited time, every new headset purchase will include an offer to download the VR rhythm game Beat Saber at no additional cost.
Meta shares fell 4.5% Tuesday.