Magic Leap announces layoffs as company realigns focus on enterprise and hardware

Virtual and augmented reality (AR) may well signal the future of online collaboration with the 'new normal' promised by the Covid-19 pandemic - but it may have come a little too late for Magic Leap.

The AR hardware firm has announced major layoffs and a move towards the enterprise ahd hardware markets, with some reports suggesting that up to half of the company's workforce is to go.

In a blog post, Magic Leap CEO Rony Abovitz outlined the 'painful process' of...

Threekit unveils configurable AR for retail with ‘millions’ of customisations promised

As many consumers cannot get to physical stores right now amid the coronavirus pandemic, the time to explore augmented reality (AR) initiatives for retail may be nigh.

Threekit, a product visualisation software provider based in Chicago, certainly believes so. The company has announced the launch of a configurable AR feature, which allows shoppers to see and customise 'millions' of product variations in augmented reality.

This is by no means the only offering which...

AR and VR headsets to see short-term Covid-19 decline – but IDC notes positive long-term outlook

IDC has forecast a decrease in augmented (AR) and virtual reality (VR) device shipments in the first half of 2020 due to supply chain disruptions caused by the recent Covid-19 outbreak – but says the long-term landscape is strong.

According to IDC, a decline of 10.5% is expected on a year-over-year basis in the first quarter, followed by a 24.1% decrease in the second quarter. However, a bounce back is expected in the second half of 2020, considering gradual production increase...

NexTech to acquire Jolokia for AR holograms in web conferencing

NexTech AR Solutions announced that it has signed a letter of intent to acquire interactive video solutions provider Jolokia in an all-stock transaction.

According to the deal, on closing, NexTech AR would require an initial payment of 1 million shares in restricted stock priced at $1, with a 12-month earn out if certain revenue milestones are hit of an additional $4 million in restricted stock.

As corporate meetings and events are happening online these days by medium of...

AR market value to exceed $100bn by 2024 – through emerging interaction methods for smart glasses

The value of the augmented reality (AR) market is set to break $100 billion by 2024, according to ABI Research, as emerging interaction methods for AR smart glasses maximise and optimise user experience.

The analyst firm’s latest report, ‘User Interface and User Experience in AR Technology’, states that more intuitive and user-friendly interaction would enhance UX and drive growth of the AR smart glasses market in the coming years.

Eleftheria Kouri,...

NexTech AR collaborates with Poplar over new brand advertising initiative

NexTech AR Solutions has joined hands with UK-based AR collaborative platform Poplar wherein the latter will utilise NexTech AR’s advanced WebAR technology, while NexTech AR would leverage Poplar’s brand new AR campaign creation platform.

David Ripert, CEO and co-founder of Poplar and ex-head of YouTube Spaces, EMEA, at Google, said: “We are thrilled to become partners with NexTech AR, whose web-based 3D visualisation tool will empower our global AR creator...

AR to overtake VR as dominant platform for healthcare, finds GlobalData

While healthcare assistance for virtual (VR) and augmented reality (AR) technologies remains nascent, AR is expected to move ahead over time as capabilities increase.

That’s according to a new report from GlobalData. The paper states that as the technology advances and with the availability of cheaper, more user-friendly VR and AR headsets, the barriers to widespread use in healthcare are beginning to fall. Though the technologies are in their early stage of adoption,...

NexTech to expand its AR services in learning and development industry

Vancouver-based software firm NexTech AR Solutions and Californian enterprise video solutions provider Jolokia have announced their collaboration to combine their individual expertise in their respective domains.

NexTech, which holds specialisation in web-based AR for eCommerce with technology ranging from simple 3D Images to hologram technology, will combine its skills with Jolokia’s secure, cognitive, and interactive video platform to expand its reach into the learning and...

Accenture and Qualcomm collaborate to pilot extended reality product for event planning

Accenture and Qualcomm Technologies have partnered with InterContinental Hotels Group to assess a solution that uses augmented and virtual reality to reinvent the event planning experience.

Accenture’s extended reality (XR) practice has developed the XR Event Planner solution in collaboration with Qualcomm Technologies, which will place event planners, buyers and hotel sales staff side-by-side in a virtual reconstruction of an event space, allowing them to remotely envision...

Mojo Vision announces breakthrough in ‘invisible computing’ smart contact lenses

California-based startup Mojo Vision is developing a smart contact lens that will have an inbuilt display in what the company is describing as ‘the world’s first true smart contact lens.’

The Mojo Lens provides users with an eyes-up experience known as invisible computing whereby the information is accessed without looking down at a screen or losing focus on surrounding objects.

The invisible computing platform, which allows information to be prompt,...