Meta has chosen to discontinue the development of its two unannounced wearable projects as well as it's Portal video-calling smart displays, after laying off 11,000 workers a few days ago.
According to Reuters, "Meta Platforms is exiting its Portal smart display business and will wind down work on smartwatch projects, executives said on Friday during an employee townhall meeting.”
Smart displays with video calling on Meta's Portal
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However, it has already stopped producing devices for consumers. Instead, the commercial use cases were the company's new target market. Now, even companies won't be able to purchase these devices.
Project Meta's smartwatch
The Verge said that Meta intended to release its smartwatch, code-named "Milan," in 2023 for about $349. The two built-in cameras that it was supposed to have were its distinguishing feature. It's interesting to note that not even the Apple Watch has cameras built inside it.
It is now stated that the idea to introduce smartwatches has been abandoned.
Zuckerberg has issued a cost-cutting warning
Notably, CEO of Meta Mark Zuckerberg stated that additional cost-cutting measures would be implemented in a statement following the mass layoffs. In the upcoming months, he said, the corporation will implement other cost-cutting measures similar to these.
"We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1," the statement read.
