Weekly Tech Update: December 24th, 2024
Apple Inc. is developing a smart doorbell featuring Face ID, poised to rival Amazon.com, Inc.’s Ring products. Apple aims to differentiate itself with a strong emphasis on user privacy, ensuring video footage is securely stored on iCloud and access is restricted. The doorbell will integrate seamlessly with the HomeKit ecosystem, providing notifications on Apple devices, whereas Ring continues to thrive within Amazon's Alexa ecosystem. As the smart home market is projected to grow from $75.36 billion in 2020 to over $423.95 billion by 2028, Apple’s entrance could disrupt the space, though the product isn't expected before late 2025.
Google Proposes Flexibility Amid Antitrust Challenges
Facing U.S. Department of Justice efforts to break up its monopoly, Google has proposed allowing platforms like iOS to set multiple default search providers and change them annually as an alternative to divestitures. This move follows a ruling that Google holds monopolies in general search services and text advertising, with the DOJ suggesting remedies like divesting Chrome. Analysts believe Google’s proposals could ease regulatory pressure while preserving its key revenue streams. A final decision on these antitrust measures is expected by August 2025.
Meta Aims for AR Leadership with Smart Glasses Upgrades
Meta Platforms, Inc. is advancing its AR ambitions by integrating displays into its Ray-Ban smart glasses by 2025, aiming to solidify its position in wearable technology. The updated glasses will display notifications and interact with Meta’s virtual assistant, complementing Meta’s prototype Orion AR glasses, which promise advanced imaging capabilities. As Meta accelerates its wearable tech efforts, Wall Street analysts expect these innovations to be pivotal in achieving valuations comparable to Apple, bolstered by strong sales of the current Ray-Ban models.