January 31, 2022

Apple CEO Tim Cook has said the company sees a lot of potential in the metaverse space and is investing accordingly.

He said this when asked about the company’s plan on the metaverse. Cook also shared details on the company’s plans to expand its augmented reality (AR) apps.

While Apple has 14,000 AR apps in its App Store, Cook said the number will rise with further investment.

Apple has yet to confirm a report by Apple analyst Ming-Chi Kuo and Bloomberg that the company plans to introduce an AR headset in 2022 or 2023.

Cook also said separately that Apple’s research and development efforts are focused on the interaction between hardware, software and services.

A reflection of Apple’s goal is to see an AR device that could offer room for many ways to make more sales.

According to analyst Neil Shah of Counterpoint Research, AR apps can contribute to Apple’s revenue.

“There is a significant upside to Apple’s services business potentially crossing its iPhone in the next five years,” Shah said.

For more information, read the original story in Reuters.