Apple 'previews its mixed-reality headset'

The company has been working on the device since 2015

Apple Watch was the company's last major new product category. It was previewed in 2014 and introduced to the market in the next year. EPA

Apple’s board of directors reportedly previewed its coming mixed-reality headset last week, indicating that company could soon launch a new product category.

“A version of the device was demonstrated to the directors during the latest gathering,” Bloomberg reported. It suggested that “development of the device has reached an advanced stage”.

Apple has not responded to The National's request for comments.

The iPhone maker’s board, which includes chief executive Tim Cook and eight independent directors, meets at least four times a year.

The board is usually the first audience, before the regular employees, to preview the future products.

Apple is intending to reveal the first look of the headset by the end of the year or next year, Bloomberg said. Consumers will be able to buy the device in 2023.

The company had planned to unveil the headset at next month’s Worldwide Developers Conference, but problems related to “content and overheating” caused a possible delay.

Codenamed N301, the headset has been under development since 2015. A technology development group of almost 2,000 engineers is working on the project

Apple Watch was the company's last major new product category. It was previewed in 2014 and introduced to the market in the next year.

The headset, which is expected to merge virtual and augmented reality, will provide new revenue for Apple, which earned almost 80 per cent of its annual sales from the device business.

It reported a 5.8 per cent annual jump in the first quarter’s net profit, which surged to more than $25 billion.

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Apple iPod through the ages

The Apple iPod 1st generation was released October 23, 2001. It cost $399, and had 5GB storage holding 1,000 songs. Photo: Apple

The Apple iPod 2nd generation was released July 17, 2002. It came with 10GB of storage for $399 and later a 20GB version was released for $499. Photo: Apple

The Apple iPod 3rd generation was released April 28, 2003 and started making use of the iTunes store. It was the first to have an all-touch wheel to scroll. Prices ranged from $299 to $499 depending on storage size. Photo: Apple

The Apple iPod mini 1st generation was released January 6, 2004. This was the first time the click wheel was used and the pod came in five different colours - blue, pink, silver, green, and gold. It sold for $249. Photo: Getty Images

The Apple iPod 4th generation was released July 19, 2004. The function buttons were moved on to the wheel. A 20 GB model sold for $299, while a 40 GB model was available for $399. Photo: Apple

The Apple iPod 4th generation with a colour screen was released October 26, 2004. Album covers could be seen for the first time and the shuffle function was introduced. Photo: Apple

The Apple iPod U2 Edition was released at the same time as the 4th generation. It held up to 5,000 songs and featured a black enclosure with a red click wheel and custom engraving of U2 band member signatures. It retailed at $349. Photo: Apple

The Apple iPod shuffle 1st generation was released January 11, 2005. A first entry to the low-end market, it had no screen and just buttons to play / pause, next song or previous. The 512MB model sold for $99, while the 1GB model sold for $149. Photo: Apple

The Apple iPod mini 2nd generation was released February 22, 2005. It had just minor changes from the first generation mini, and the 4GB version sold for $199, while the 6GB model sold for $249. Photo: Getty Images

The Apple iPod 6th generation was released September 5, 2007. It came in a 160GB model for $349. Photo: Apple

The Apple Nano iPod 1st generation was released September 7, 2005. This was a super thin iPod at just 0.27in thick. It used flash memory for storage, and sold at $199 and $249 for 4BG and 6GB respectively. Photo: Getty Images

The Apple iPod 5th generation was released October 12, 2005. This had a larger screen, smaller wheel and played video. In 2005, Apple also released the iPod nano and iPod shuffle. Photo: Apple

The Apple Nano iPod 2nd generation was released September 12, 2006. More colour options were added, plus an 8GB version for $249. Photo: Apple

The Apple iPod shuffle 2nd generation was released September 12, 2006. A small, clip-on size was introduced in a variety of colours. A dock replaced the integrated USB connector. With 1GB is was $79. Photo: Apple

The Apple iPod Nano 3rd generation was released September 5, 2007. A big change in shape to allow video display. The 4GB model was $149, while the 8GB model was $199. Photo: Getty Images

The Apple iPod Touch 1st generation was released September 5, 2007. It was basically the iPhone without the camera and phone capabilities. An 8GB model sold for $299, and a 16 GB model sold for $399. Photo: Apple

The Apple Nano iPod 4th generation was released September 9, 2008. It was a return to the rectangular shape, while the "Genius" playlist option was introduced. It had bigger capacity, came in nine colours and was $149 and $199 for 8GB and 16GB respectively. Photo: Getty Images

The Apple iPod Touch 2nd generation was released September 9, 2008. It featured the new iPhone 2.0 OS and a curved back. An 8GB model was $229, a 16GB model was $299, and a 32GB model was $399. Photo: Apple

The Apple iPod shuffle 3rd generation was released March 11, 2009. A shape change saw it go back to rectangular. It included Apple's new VoiceOver feature, with song title, artist, and playlist title spoken aloud. Photo: Apple

The Apple iPod Nano 5th generation was released September 9, 2009. An integrated video camera, FM radio and pedometer were added. 8GB and 16 GB cost $149 and $179 respectively. Photo: Getty Images

The Apple iPod Touch 3rd generation was released September 9, 2009. Faster and with greater capacity, it came in 32GB and 64GB for $299 and $399 respectively. Photo: Apple

The Apple iPod Nano 6th generation was released September 1, 2010. It was goodbye click wheel and hello touch screen. The camera was removed, while it was sold in seven colors, in capacities of 8 and 16 GB, for $149 and $179, respectively. Photo: Getty Images

The Apple iPod shuffle 4th generation was released September 1, 2010. It shrunk in size again and was sold with 2GB of storage for $49, in five colours. Photo: Apple

The Apple iPod Touch 4th generation was released September 1, 2010. It brought in iPhone 4 enhancements such as retina display, front and rear cameras. 8GB was $229, 32GB was $299 and 64GB $399. Photo: Apple

The Apple iPod Nano 7th generation was released September 12, 2012. Another change in shape - back to tall and thin. It sold in eight colours, with 16GB of storage for $149. Photo: Getty Images

The Apple iPod Touch 5th generation was released September 12, 2012. A bigger 4in screen was added, plus Bluetooth 4.0 and the lightning connector. 32GB was $299 and 64GB $399. Photo: Apple

The Apple iPod Touch 6th generation was released July 15, 2015. The A8 processor found in the iPhone 6 was brought in, plus better cameras. 16 GB was sold for $199, 32 GB for $249, 64GB for $299 and 128GB for $399. Photo: Apple

The Apple iPod Touch 7th generation was released May 28, 2019. The quad-core A10 chip from the iPhone 7 was used, and Apple said it had a 40-hour battery life for music. It coincided with the launch of Apple Arcade games. 32, 128, and 256GB cost $199, $299 and $399 respectively. Photo: Apple

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Revenue rose 8.6 per cent year on year to $97.3bn during the quarter, exceeding analyst estimates of $93.8bn.

iPhone sales, which surged almost 5.5 per cent to $50.5bn in the quarter, account for about 52 per cent of the company's total revenue.

Revenue from wearables, home and accessories products increased almost 12.4 per cent yearly to more than $8.8bn.

Apple planned to release the first look of the headsets in 2019, with a consumer launch in 2020. Later, the first unveiling was pushed to 2021 and the consumer launch to 2022.

But the project was delayed for various reasons.

The augmented reality and virtual reality headset market jumped more than 90 per cent on an annual basis in 2021 to more than 11 million units, according to a report by International Data Corporation in Massachusetts.

Facebook owner Meta’s Quest 2 headset dominated the market with more than three quarters of the share.

Meta is also expected to launch a new mixed-reality headset in the coming months.