The future is bright for consumer augmented reality.
Facebook announced Wednesday it is teaming up with Ray-Ban maker EssilorLuxottica to launch its first pair of smart glasses in 2021.
"After spending time with [EssilorLuxottica's] team and visiting their factory, I knew that they were the right partner for us to help bring the best technology together with the best glasses," Facebook CEO Mark Zuckerberg said during a live stream for the Facebook Connect virtual conference.
The new advanced lens technology aims to "help people stay better connected to their friends and family," according to the two companies.
More details about the new product's name, specifications, software capabilities, and pricing will be released closer to the glasses' launch in 2021.
"With EssilorLuxottica we have an equally ambitious partner who'll lend their expertise and world-class brand catalogue to the first truly fashionable smart glasses," Andrew Bosworth, vice president of Facebook Reality Labs, said in a statement.
The glasses aren't Facebook's only push into AR wearables. Facebook Reality Labs also announced Project Aria on Wednesday. Researchers will use a proprietary set of glasses, not available for sale publically, to gather information to build and improve software and hardware necessary for augmented reality glasses. Testing by Facebook employees and contractors is set to begin later this month in the United States.
Stocks were mixed in Tuesday's early session as Wall Street came off a strong rally last week.
Google on Monday confronted the second major U.S. antitrust trial in two months to cast the internet powerhouse as a brazen bully that uses its immense wealth and people's dependence on one of its main products to stifle competition at consumers' expense.
Hilton Grand said it's in the process of purchasing Bluegreen Vacations in a $1.5 billion deal.
Walt Disney Co. named former PepsiCo veteran Hugh Johnston as its new chief financial officer.
The PlayStation 5 Slim will be reportedly released on Friday.
With the holiday season approaching, many are in the market for a new TV. Cheddar News breaks it all down.
Credit card usage is sure to tick up ahead of the holiday season. With cashback, airline miles and points to be earned, reward credit cards could give you a bonus. Grant Gallagher, associate vice president and head of financial well-being with Affinity Federal Credit Union, spoke with Cheddar News about why it's important to take advance of those rewards.
Tesla is increasing wages for factory workers in Germany.
People are making travel plans and booking tickets as the holiday season nears. Johannes Thomas, CEO of Trivago, joined Cheddar News to provide tips on saving when booking lodging ahead of Thanksgiving and Christmas.
Elon Musk unveiled 'Grok,' his new A.I. chatbot over the weekend, adding that it will be more rebellious than its counterparts. Cheddar News breaks it down.
