After terminating 11,000 employees a few days ago, Meta has decided to further tighten its belt by killing its two unannounced wearable projects and Portal video calling smart displays. Officials said on Friday in an employee town hall meeting that Meta Platforms is closing down its Portal smart display business and is winding down work on smartwatch projects.
Online video communication services were provided by Meta with Portal devices. Built-in Alexa was available on all Portal video calling equipment. It made its debut with Portal and Portal + in 2018.
Nevertheless, it has already stopped producing the devices for consumers. Instead, the commercial use cases were the company’s new target market. Now, even companies won’t be able to purchase these devices.
A report stated that Meta intended to release the smartwatch, code-named “Milan,” in 2023 for about $349. The two built-in cameras that it was supposed to have were its distinguishing feature. It’s interesting to note that not even the Apple Watch has cameras built inside it. It is now stated that the idea to introduce smartwatches has been abandoned.
Notably, CEO of Meta Mark Zuckerberg stated that additional cost-cutting measures would be implemented in a statement following the mass layoffs. In the upcoming months, he said, the corporation will implement other cost-cutting measures similar to these.
In addition, the statement said, “We are reducing discretionary spending and extending our hiring freeze through Q1 in order to become a leaner and more efficient company.”
