Magic Leap is undergoing a significant business transformation, shifting its focus to become a waveguide supplier for other augmented reality device manufacturers. This strategic pivot coincides with a substantial workforce reduction, impacting nearly 200 employees in engineering and product development roles. The company aims to leverage its expertise in AR innovation and manufacturing to support the broader industry. This move signifies a departure from developing its own first-party AR headsets. Magic Leap will now concentrate on being an essential partner within the AR ecosystem.
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