Nreal unveils latest AR glasses in China

Chinese augmented reality glasses pioneer Nreal unveiled its first batch of AR products in its home country on Tuesday, after it has established a presence abroad in the past five years by partnering with leading foreign telecom operators to make AR glasses lighter and more popular.

Nreal X and Nreal Air, as its two latest AR glasses are called respectively, are part of its broader push to tap into the metaverse, or a 3D-version of internet.

Nreal, backed by big name investors including Alibaba Group Holding Ltd, Sequoia Capital and Hillhouse Capital, has taken an early lead with a 75 percent share of global consumer AR shipments last year, according to the market research company Strategy Analytics' latest report.

David MacQueen, executive director of Strategy Analytics, said Nreal, which is driving the consumer AR market, has found the sweet spot for both price ($599) and functionality. Its market share of consumer AR shipments rose to 81 percent in the first half of 2022.

Global consumer AR shipments grew 161 percent year-on-year from 2020 to 2021. In the same period, growth in consumer AR revenues hit over 300 percent year-on-year.

Xu Chi, founder and CEO of Nreal, said that now, most people no longer doubt whether AR will be the next-generation computing platform, and the Beijing-based company aims to fully tap into the opportunity to bring consumers a new, unique AR experience.

At the launch event in Beijing, Nreal also announced that it has partnered with video-streaming platform iQiyi, Migu, the digital content unit of China Mobile, electric-car maker Nio and short-video platform Kuaishou, to develop multiple customized AR content.