By Sam Boughedda
Qualcomm (NASDAQ:QCOM) and Meta Platforms Inc (NASDAQ:META) announced on Friday that they have struck a multi-year deal to develop custom chipsets for Meta's virtual reality products.
The companies will collaborate on what they describe as "a new era of spatial computing." They will use Qualcomm's Snapdragon extended reality (XR) platforms and technologies.
“Building off our joint leadership in XR, this agreement will allow our companies to deliver best-in-class devices and experiences to transform how we work, play, learn, create and connect in a fully realized metaverse," said Cristiano Amon, president and chief executive officer of Qualcomm.
The companies have previously worked together, most recently on Meta's Quest 2 product.
“We're working with Qualcomm Technologies on customized virtual reality chipsets -- powered by Snapdragon XR platforms and technology -- for our future roadmap of Quest products,” said Mark Zuckerberg, Founder and CEO of Meta. “As we continue to build more advanced capabilities and experiences for virtual and augmented reality, it has become more important to build specialized technologies to power our future VR headsets and other devices."