Another AR hardware company is exiting the headset business to sell components instead. Magic Leap confirmed 193 job cuts at its Florida headquarters as it pivots to become a waveguide supplier for other brands building smart glasses.

The company spent over $4B developing its optics technology but failed to find a market for two headset products. Existing partnerships with Google and Pegatron already center on licensing Magic Leap’s waveguide manufacturing capabilities. The cuts take effect October 1, and the remaining workforce likely numbers in the low hundreds.

Source: Road to VR