Ray-Ban maker Essilor touts Meta glasses as next smartphone blockbuster

"The world's biggest eyewear maker is positioning itself as a leader in the emerging category of smart glasses, a device that could become as prevalent as an iPhone. EssilorLuxottica SA owner of Ray-Ban, Oakley and Persol has teamed up with Meta Platforms Inc. to manufacture and sell AI-equipped eyewear, wearable tech that Silicon Valley giants have extolled as the next consumer-tech blockbuster."

"Glasses, which have long been seen as prosthetics and later as fashion accessories, are poised to become the central device in people's lives, possibly replacing smartphones, Chairman and Chief Executive Officer Francesco Milleri said on Bloomberg's Italian-language podcast, Quello Che i Soldi Non Dicono. We could foresee in the near future hundreds of millions of smart glasses interconnected with each other, and with the people who wear them creating huge communities."

"Milleri said the company was expanding its production capacity for Ray-Ban Meta, set to reach 10 million annual units by the end of next year. This could also be used for other smart glasses, as well as EssilorLuxottica's Nuance Audio glasses which integrate hearing assistance. The push into smart glasses by Meta, Apple Inc. and others dovetails with Milleri's long-term strategy to expand the French-Italian company by adding wearables and medical technology, while preserving its dominance in traditional eyewear, he said in a rare interview."

EssilorLuxottica is positioning itself to lead the smart-glasses market through a partnership with Meta to manufacture and sell AI-equipped Ray-Ban Meta eyewear. The company plans to expand production capacity to 10 million Ray-Ban Meta units annually by the end of next year, with capacity adaptable for other smart glasses and Nuance Audio models that integrate hearing assistance. The move complements broader industry pushes by Meta, Apple and others and aligns with a strategy to add wearables and medical technology while maintaining dominance in traditional frames. The company’s market value has more than doubled to over $125 billion since strategic consolidation.

Read at www.mercurynews.com