Xreal is one of the biggest players in the AR glasses space, but it is facing intense competition from the likes of Snap, which unveiled a new set of its Spectacles in September, as well as Facebook parent Meta's continued efforts with the Meta Ray-Ban product. Meanwhile, CNBC reported this year that Qualcomm is working on a set of glasses with Google and Samsung.
Xreal is among the companies that are betting on glasses — rather than large headsets like Apple's Vision Pro or the Meta Quest — to be the mass-market winners in AR.