Magic Leap Shifts Focus to Technology Licensing, Lays Off Sales and Marketing Teams: Reports
Magic Leap, the augmented reality (AR) startup, has made headlines with reports of laying off its entire sales and marketing teams, affecting around 75 employees. The company is said to be shifting its focus towards technology licensing, leading to these job cuts.
Founded in 2010, Magic Leap is known for its mixed-reality headsets, with the Magic Leap One being their first device released in 2018. After launching the Magic Leap One, the company underwent restructuring, laying off half of its employees and pivoting towards the enterprise market. In 2022, they launched the Magic Leap 2, an improved version of their headset offering a lighter design and wider field of view.
Magic Leap holds numerous patents for their optics technology, which addresses common issues in mixed reality headsets such as blurry images and eye strain. The company now plans to focus on licensing this optical technology to other companies, potentially revolutionizing the design of future AR devices by eliminating the need for certain components like external refractive lenses.
This strategic shift by Magic Leap reflects the evolving landscape of the AR industry and highlights the company’s commitment to innovation and collaboration. Stay tuned for more updates on this developing story.
