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Meta Bows Down To German Watchdog To Salvage VR Ambitions

  • Meta Platforms, Inc (NASDAQ: META) responded to the German cartel office's concerns by allowing the use of its virtual reality headset without a Facebook account.

  • In late 2020 the Bundeskartellamt initiated a proceeding against Meta for making the use of Oculus conditional on the existence of a Facebook account.

  • Bundeskartellamt closely watched Meta since May when it declared it was of "paramount significance for competition across markets," a classification that gives the regulator more scope to curb digital companies' market power, Reuters reports.

  • Also Read: Meta's Concerns Mount as Internal Documents Reflect Inadequate Metaverse Accomplishments

  • Meta expressed interest in an amicable solution in the Facebook and Oculus matter.

  • In late August 2022, it introduced the Meta account allowed users to use the Quest 2 and Quest Pro headsets without a Facebook or Instagram account.

  • The Bundeskartellamt made it clear that in setting up the headsets, users would have to be allowed to decide as freely and uninfluenced as possible whether to use the headsets separately or in connection with other Meta services.

  • Cartel office chief Andreas Mundt pointed to Meta's strong position in social media and the growing VR market.

  • Despite the headset being made available to others via the Meta account, the German regulator said it would continue to monitor the design of user choices and issues relating to the aggregation and processing of user data from Meta services.

  • Price Action: META shares traded higher by 0.21% at $111.67 in the premarket on the last check Wednesday.

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