Meta had reportedly cancelled its high-end mixed reality (MR) headset, news reports reavealed on Friday, citing sources familiar with the matter.

Speaking to The Information, the sources stated that the Menlo Park-based firm cancelled its plans to launch the headset, which would have debuted in 2027 to compete with the Apple Vision Pro.

Reuters cited the Information that the sources were two Meta employees.

Additionally, the tech giant’s Reality Labs division reportedly informed teams to cease development on the head-mounted display following a product review meeting.

Codenamed La Jolla, after a neighbourhood in San Diego County, California, the headset would have offered users ultra-high-resolutions with micro-OLED displays to compete with those in the Vision Pro.

Meta has canceled plans for a high-end mixed-reality headset due in 2027 that was meant to be a competitor to Apple’s Vision Pro in part due to the high cost of the displays. Check out @SylviaVarnham and my latest scoop for @theinformation https://t.co/KmV8jsNuhd

— Wayne Ma (@waynema) August 23, 2024

Report authors Wayne Ma and Sylvia Varnham have also noted that the high cost of the micro-OLED displays have led to the cancellation.

Despite the news, Meta’s stocks rose around 0.16 percent to $532.69.

The development comes weeks after Meta filed several patents for eye-tracking, image sensory, light sourcing, and frame-tracking to upgrade their Quest family of headsets.

At the time, Apple Vision Pro sales had begun to decline dramatically, with Meta turning to its smart glasses and headset development ambitions.

A further Bloomberg report in July noted that the Apple Vision Pro had sold just over 100,000 units since opening for business in February.

D×M understands that Reality Labs may have binned the premium headset plans due to low demand from the Vision Pro. Meta’s mixed reality division may also aim to hold its commitment to a Year of Efficiency as cited in previous statements from Mark Zuckerberg, Founder and CEO, Meta.