San Francisco, Mar 5 (IANS): Meta (formerly Facebook) has announced a cut in the prices of its Quest 2 and high-end Quest Pro headsets.

Meta Quest 2's price will drop from $499.99 to $429.99, and Meta Quest Pro's price will drop from $1,499.99 to $999.99, according to CNBC.

"Our goal has always been to create hardware that's affordable for as many people as possible to take advantage of all that VR has to offer," the company said.

The new price for the Quest Pro will be available to US and Canadian buyers on March 5, while the rest of the world will see it on March 15, the report mentioned.

Meta lost a whopping $13.7 billion in operating losses for Reality Labs for 2022, giving its AR-VR and Metaverse dream a huge jolt.

Within the Reality Labs segment, Q4 revenue was $727 million, down 17 per cent due to lower Quest 2 sales.

Reality Labs expenses were $5 billion, up 20 per cent primarily due to employee-related costs and restructuring-related expenses.

Reality Labs operating loss was $4.3 billion in the holiday quarter of 2022.

Meta bought AR hardware company Oculus for $2 billion back in 2014.