Meta Extends Partnership with EssilorLuxottica

Meta Platforms has extended its partnership with EssilorLuxottica, the parent company of Ray-Ban, for another decade to develop multi-generational smart eyewear products. This collaboration, which began in 2019, has already produced two generations of Ray-Ban smart glasses, with the latest version launched in late 2023 selling significantly better than its predecessor. The smart glasses enable users to make calls, listen to music, and take photos, and have recently integrated an AI feature to enhance functionality. Despite their success, analysts suggest the glasses are more of a novelty than a replacement for smartphones. Meta's CEO Mark Zuckerberg expressed excitement about the potential of turning glasses into a major tech platform, emphasizing style and functionality. The ongoing competition in the smart glasses market is underscored by other companies, including Apple and Snap, also working on similar products.