Magic Leap Shifts Focus to Technology Licensing, Cuts 75 Jobs

Magic Leap, a prominent augmented reality (AR) startup, made headlines recently as it reportedly cut 75 jobs and reoriented its business towards technology licensing. The company’s restructuring included the elimination of its sales and marketing departments, signaling a shift in focus.

According to a report by Bloomberg, Magic Leap stated that the changes were made to better align with market dynamics and emerging opportunities. The company spokesperson mentioned that they have consolidated their frontline engagement to developer support and care teams, emphasizing their commitment to supporting customers and developers.

Since its inception in 2010, Magic Leap has undergone several strategic shifts, moving from consumer AR headsets to targeting business users and now concentrating on technology licensing. The company is now looking to license its optics technology used in AR headsets, indicating a new direction for the company.

This news comes on the heels of a partnership between Magic Leap and Google, which was announced a couple of months ago. The collaboration aims to combine Magic Leap’s optics and device manufacturing expertise with Google’s technology platforms, potentially leading to innovative developments in the AR space.

With the appointment of Ross Rosenberg as CEO in October, Magic Leap is gearing up for the next phase of growth in the enterprise AR market. As companies increasingly see the ROI from deploying AR technologies, Magic Leap believes it is well-positioned to address the evolving needs of the market.

Overall, Magic Leap’s recent moves reflect a strategic shift towards technology licensing and a focus on serving the enterprise AR market. The partnership with Google and the appointment of a new CEO signal a new chapter for the company as it navigates the rapidly evolving AR landscape.